FX:XAUUSD   Gold Spot / U.S. Dollar
There is a correction in the gold             after a very long impulsive move from 2001. I found a barrier triangle in wave 4 of wave (A). The blue line shows the trajectory that may be followed by the gold             .
Sandeep, very nice, as usual. The decline in the dollar would favor this scenario as well.
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Thanks Sandeep!
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Welcome.
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I am not able to trade gold with my broker (FXCM). I use the XAUUSD pair as indicator. The strong correlation with the AUDUSD pair allow me to know in what direction to trade. Also, the inverse negative correlation between AUDUSD pair and GBPAUD pair give me more room for my trades.
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Or what is your strategy ? :-)
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Later once the price reach 1300 and shows signs of reversal then sell, if the price follows same or similar root.
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So are you going to buy now ? at those levels, and TP around 1300 ?
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I am not giving buy or sell recommendation, I am just proposing the trajectory, the gold can take.
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Good Idea.
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Sir, I really love your chart analysis. Your charts are very clean and easy to understand. I want to learn more about Elliot Waves, any website or book that you recommend?


Thanks for sharing your knowledge.
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