thenry
Long

Elliot Wave Speculation

FX:XAUUSD   Gold Spot / U.S. Dollar
423 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.
Thank you
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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 sulbas
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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