WallStScalper
Short

XAUUSD a flat (double bottom) for the 5th wave

FX:XAUUSD   Gold/U.S. Dollar
523 2 2
Bulls are fighting to push gold             higher but it seems like they still need more strength.
Could get that by letting bears take over and create a positive divergens on the daily RSI and at the same time making a double bottom. That's one scenario. Letting price making lower low could also be a possibility. (Always) :)

Argument for making a flat:
Wave 2 was quick, easy and gone in no time. That fits well with a long time consuming corrective 4th wave.

Indices are testing cliffhanger support and might bounce soon for creating a ED. That could be the "excuse" for gold             to fall and making the divergens.

Time will tell... as always.

Safe trading ladies and gents!

@BLawrenceM
Wall St Scalper
memesae
2 years ago
what setting for ur moving ?
Reply
chrystael
2 years ago
Hello good friend. Check my profile and you will see how elliot wave count is drawn.
I drew it and got nice profits of about 1000 ticks from entry and about 100.0 pips from it.
Sorry, please learn how to draw well.

Thanks
Reply
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