thenry
Long

Elliot Wave Speculation

FX:XAUUSD   Gold/U.S. Dollar
419 3 15
Believe this Correction is complete. Many similarities with this correction and the larger Wave 2. Both appeared to be a complex correction ending with an ABC. If correct and in a current minor Wave 1 the long term bearish trendline (White) should be tested again. The minor wave 2 could then find support on this trendline. The Bulls would then resume to make new highs. The major bullish trendline (Cayan) should not get broken. Will probably take some time to fully get past the Bearish trendline. Speculating it will be similar to the First wave that began this whole bullish movement.
sulbas
3 months ago
Good comparision view. Can see similar points clear. So how many days it should take to test bearish trendline and turn to bullish do u think? In my opinion it wont test much long time coz wave 2 seems smaller then wave 1.
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thenry PRO sulbas
3 months ago
I guess my thoughts are (If this is a minor Wave 1) that the 1 wave will test the top and then retrace and double test the Long term Bear trendline. Think the Wave 2 will be fairly shallow and longer in time than Wave 1. Perhaps an expanded flat correction
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sulbas
3 months ago
Thank you
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