Gold at the verge of a bullish move; Elliott wave analysis?

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
The recent bearish move in Gold has seen price almost recovered the last gains. I think there is more room for price to rally further as the current dip looks corrective - a zigzag pattern. The last wave of the zigzag is a clear diagonal pattern. I am expecting a strong bullish move to break above the last high. If this wave count is correct, an even stronger impulsive bullish wave would be seen at least an a-b-c bullish correction.
If there is a breakout, my entry price will be 1281/2 and target will be at 1319.
It's important to note price behavior after the breakout and watch the pattern emerging. The zigzag mentioned above could also be a leading diagonal and the breakout rally a minor correction that will lead for more bearish move.
Anyways, I will consider a bullish trade for this and target 1:3 R/R while I adjust my stop loss as price makes new lows if it foes in my direction.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out