Elliot waves Prediction on Gold.
Daily
- Gold is bullish, creating a leading diagonal after a flat correction (3-3-5)
- 4 Waves of the bullish leading diagonal completed waiting for Wave 5 confirmation.
H4
- The last leg 5 waves of the leading diagonal in motion with only wave 3,4 and 5 outstanding
- The 8th of March 2024 is NFP day. More buys were seen on gold during the week leaving more liquidity to be collected by the big banks.
- We expect a correction on Gold during the NFP session (wave 4)
Daily
- Gold is bullish, creating a leading diagonal after a flat correction (3-3-5)
- 4 Waves of the bullish leading diagonal completed waiting for Wave 5 confirmation.
H4
- The last leg 5 waves of the leading diagonal in motion with only wave 3,4 and 5 outstanding
- The 8th of March 2024 is NFP day. More buys were seen on gold during the week leaving more liquidity to be collected by the big banks.
- We expect a correction on Gold during the NFP session (wave 4)