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ElliottWaveBelgium

Gold - Short opportunity with good R/R !

Short
Gold Spot / U.S. Dollar (FX:XAUUSD)  
ElliottWaveBelgium Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Wave Analysis Beyond Technical Analysis XAUUSD Gold short riskreward
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trendanalysis waveanalysis beyondta xauusd gold short riskreward
We should have 5 waves in and a potential big top in place.
We should see price go down for at least 3 waves from here and we can short this.

Ideal entry zone would be between the 50%-61.8% Retracement levels.
But can short right now also.
Invalidation point is at 1347.
First Target around 1.305.

Se weekly chart below.
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Stop moved to 1305. Consider taking some profits now if you like as we might start to range for the next 2days.
snapshot
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