EWcycles

Elliott Wave Theory on CFDs on GOLD 1h

TVC:GOLD   CFDs on Gold (US$ / OZ)
Here is what I think :)

Fibonacci retracement and extension:
W2 = 0.786 of W1
W3 = between 1.236 and 1.618 of W1,2
W4 = 0.382 of W3

The trend is up IF W5 manages to go higher than W3, by that I mean that we should wait for confirmation. Wait until the price goes above 1818.14.
I will not buy before confirmation.

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