Gold sharply rose from 1804 to as high as 1914 mitigating the larger Weekly Order Block.
There might be though an opportunity to sell if price misbehaves on the range 1919-1927 and a potential 4:1 RRR with a risk invalidation above 1959 targeting 1765 which was the extreme of the previous Wave (B) of last Impulsive Wave A.
Disclaimer:
Elliott Wave Analysis is not a perfect trading system and it is necessary to always have applied risk management and strict compliance to confirmation as well as Invalidation levels. It only has the capability of advancing potential market direction base on its printed data. Actual market data will also provide flexible variation for the wave count. Risk only base on your tolerance.
#marketpainterph
#elliottwave
#XAUUSD
#GOLD
There might be though an opportunity to sell if price misbehaves on the range 1919-1927 and a potential 4:1 RRR with a risk invalidation above 1959 targeting 1765 which was the extreme of the previous Wave (B) of last Impulsive Wave A.
Disclaimer:
Elliott Wave Analysis is not a perfect trading system and it is necessary to always have applied risk management and strict compliance to confirmation as well as Invalidation levels. It only has the capability of advancing potential market direction base on its printed data. Actual market data will also provide flexible variation for the wave count. Risk only base on your tolerance.
#marketpainterph
#elliottwave
#XAUUSD
#GOLD