Viking83
Long

Possible 1-5 + ABC complete

FX:XAUUSD   Gold / U.S. Dollar
115 0 3
We might start a new impulse sequence up after what may be a completed 1-2-3-4-5 ABC EW pattern.

This is an interesting point for price;
We almost have a failed daily cycle and we broke a long-term uptrend line. This will make bears flock around gold             .

However; The cycle is so far only ALMOST failed. And broken trend-lines occur often without being crucial.
The corrective sequence was quite brutal shifting sentiment to bearish extremes. This is bullish .

If EW sequence is right, this is a long position.
Comment: See
Gold ended correction move

for details regarding the corrective ABC sequence.
Comment: The direction went long before the total breakdown.
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