venckusarunas
Short

Gold correction near end

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             was in rally almost all the month, but according to Elliott wave count it is in the corrective wave of 2. It can be deep correction and even the double top could be done here. Now it is at the last minor Fibonacci retracement level of 88%.
Trade idea:
1. First position will be taken as the reversal confirmation from price action, reversal bars or reversal pattern in 4 hour time frame is found.
2. Second position will be taken if first one is taken and unfolding in positive direction, 4 hour first continuation partern is unfolded and ended correction, and If continuation bars will appear.
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