FullTimeTrader
Short

XAUUSD-correction seems completed

FX_IDC:XAUUSD   GOLD / US DOLLAR
940 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
snapshot

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

Regards

I'm already in from 1124.30, but was a more predictive non EW entry.
Looks solid, good luck mate.
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JosephCarson
a year ago
Makes too much $en$e :)
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