thenry
Long

Elliot Wave Count (Weekly)

FX_IDC:XAUUSD   GOLD / US DOLLAR
92 1 3
Believe we are still Bullish . Move we are currently in is corrective. Unfortunately the bullish trendline was violated. Am speculating this move up from Wave 1 is corrective and could end with a weak "Y" wave. Enough trys at this major Bearish trendline and we could finally break it. A strong close above it followed by support on it would be a good indication that the Bulls would resume.
Comment: 5 wave move currently started
Is it because Gold has not reached 2011 & 2012 peak yet ?
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