Are we in major correction phase or more upside is coming?
Dear Traders,
As we focus only in Elliot Wave analysis, we found out that the gold price is in still its major 3rd wave.
We will consider this 3rd wave is completed only when the (2) and (4) matured trend line will be broken.
As you can see, the price has already showed a rejection from this trend line. (Daily Chart)
Meanwhile, in minor scenario which is in 4 hours chart it is showing us an ongoing zigzag correction.
As a wave analyst, I am considering this drop as wave "A" of zigzag which will have 5 moves in 4 hours chart.
I will break down the 4 hours chart for you in a note of this post.
As we focus only in Elliot Wave analysis, we found out that the gold price is in still its major 3rd wave.
We will consider this 3rd wave is completed only when the (2) and (4) matured trend line will be broken.
As you can see, the price has already showed a rejection from this trend line. (Daily Chart)
Meanwhile, in minor scenario which is in 4 hours chart it is showing us an ongoing zigzag correction.
As a wave analyst, I am considering this drop as wave "A" of zigzag which will have 5 moves in 4 hours chart.
I will break down the 4 hours chart for you in a note of this post.
הערה
הערה
If you don't trust my analysis, then do not follow me.
I am not your paid fund manager.
I do share my analysis to show you the path what can gold price do in future.
הערה
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