Gold Elliott wave analysis - from 1835 to 1790 or 1890
price is making series of higher high and higher low on 15 min time frame which tells us a strong bullish trend.
we used line chart so that beginner elliott wave trader to understand better compared to candle stick chart
wave W than flat correction by wave X than Wave Y making 1.618 projection of wave W at 1835
wave Y has made an ending diagonal chart pattern which followed by sharp decline in price up to bottom of chart pattern that is low of x
price has break lower trend line of chart pattern . it has also made double top pattern on 1.618 projection
first tp for seller 1808
key event US CPI at 7 pm ist
we used line chart so that beginner elliott wave trader to understand better compared to candle stick chart
wave W than flat correction by wave X than Wave Y making 1.618 projection of wave W at 1835
wave Y has made an ending diagonal chart pattern which followed by sharp decline in price up to bottom of chart pattern that is low of x
price has break lower trend line of chart pattern . it has also made double top pattern on 1.618 projection
first tp for seller 1808
key event US CPI at 7 pm ist
הערה:
don't forget daily time frame
