riversnew1

Gold Primary Cycle Down

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
OANDA:XAUUSD

This is a long term Elliott Wave count. There is nothing complicated about it, it's very straightforward(textbook EW). The trend is reaching its peak and should resume it downward direction after multi-year advance in cycle degree wave IV.

Comments

Many thanks for your input mr. Rivers. Extremely neat and very helpful for a newbie. Much appreciated.
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Good. I favour the idea of ABC waves if C equals A we would have a target of 924. As long as 2011 high not taken out I am not bullish. I have a open short position from 1734 stop 1742 tp open dreaming for wave C.My 2 cents.
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