MohamedMagdy
Short

Elliott Wave Outlook

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
225 0 9
If this scenario is correct , then we have wave 1 being extended , and according to Elliott wave rules wave 3 can not be the shortest , thus wave 5 must not exceed the invalidation level shown by the dotted red horizontal line . This completed impulsive wave forms bullish wave A of a bullish corrective structure ABC ,

The breakout of the dotted blue support triggers the formation of the bearish wave B which can be any three corrective structure , the the final impulsive bullish wave C to be formed
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