In this article I have discussed the 2 possibilities that can play out in Gold (XAU USD).
The market is either moving as a Flat in the Wave C (Consider the Count in BLUE)
OR
It has already completed the Wave 2 correction as a double Zig Zag and is currently in the Wave 2 of the 3rd (Consider the count in RED ), in both cases it looks that we should see the market moving down atleast till :
1250-1247.85
region, from there on more possibilities should become clear.
If this market is moving as a Flat then we can see the levels of 1240 and 1226.
I will update further as this market proceeds.
The market is either moving as a Flat in the Wave C (Consider the Count in BLUE)
OR
It has already completed the Wave 2 correction as a double Zig Zag and is currently in the Wave 2 of the 3rd (Consider the count in RED ), in both cases it looks that we should see the market moving down atleast till :
1250-1247.85
region, from there on more possibilities should become clear.
If this market is moving as a Flat then we can see the levels of 1240 and 1226.
I will update further as this market proceeds.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
