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Elliottwavesanalysis

GOLD XAUUSD - Where now?Hi everyone, We saw the reaction off the completed WXY highlighted last week (linked idea below) play out perfectly and the larger three wave corrective structure now also looks complete above the 1860 level. My plan is to target the price inefficiency highlighted in the red boxes whilst monitoring how the forthcoming wave structure develops. Expecting initial resistance at the 1900 level. A bullish five wave structure will likely lead gold higher beyond 1960, completing the impulsive move which began in September 2022. Will update how that plays out accordingly. Trade safe. BeyondEdge
OANDA:XAUUSD
by BeyondEdge
2
Elliott Wave - Short opportunity - Zigzag correction in effectFollowing the conclusion of the impulsive 1-2-3-4-5 on this and the degree above, a, A-B-C correction down to the start of wave 4 on the previous impulse should follow. The form has already taken the first two stages of a zigzag (5-3-5) correction which presents us with a short opportunity with another 1-2-3-4-5 impulse wave down to around that shown on the image. Entry may be on the first sign of bearish action. TP somewhere in the region of 14150, SL above the reactionary B leg of the correction around 14480. I am already in a longer term trade idea back down to 13500.
PEPPERSTONE:GER40Short
by TrojanGTX