XAUUSD-correction seems completed

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
942 2 13
Gold             is still on downtrend, according to this D1 and H4 chart analysis i think the correction has completed.

Looking at D1 chart we have the price corrected to the 0.38 fib of wave 3 (an usual EW relationship)

We must consider also the H4 chart, price completed an ABC correction and has reacted to the 200 ema .
there is another relationship to consider: wave C=1.61 wave A

See H4 chart below

Target 1: last lows
Target 2 : projected wave 5=wave 1 (purple line)


Makes too much $en$e :)
I'm already in from 1124.30, but was a more predictive non EW entry.
Looks solid, good luck mate.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out