Use this as a guide to develop your view of the chart.
a)Our Main analysis on Gold is the Elliott count (12345) with a remaining 5th towards the Fibo extension at 1640. b)Currently, we forecast a correction similar to the previous one on the chart c)We will wait for a clear shape before developing new trades on Gold d)Our objective is to catch the next motive way towards 1640 with a risk-reward ratio equal to or higher than 1.5 e)By the moment we will keep waiting until this formation is clear enough to start thinking on the long setup.