EWA-tokyo

XAUUSD, Elliott wave analysis

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
■Outlook of XAUUSD on 3D chart.
I think We are on the wave(ⅳ) shown as a Green-line.
Three sub-waves of Wave(ⅳ) are shown by Orange-line.
I think sub-waves of Wave(ⅳ) are probably "Regular Flat pattern ((a), (b), (c))".
Five sub-waves of Wave (c) are shown by Black-line.
Five sub-waves will probably be Impulse (ⅰ,ⅱ,ⅲ,ⅳ,ⅴ).

If the assumption of this scenario is correct,
We are probably on sub-wave (c) of wave (ⅳ).
Five sub-waves of wave (c) will be Impulse.
I think we are probably on sub-wave (ⅰ) of wave (c).

The Low of wave (ⅳ) will grow to Wave (ⅲ)'s Fibonacci level of 38.2%.
so, Target is 1,660.
In this scenario, the stop loss level is 2070.

■Last time idea, Feb 13, 2022.

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