Ftradorex

Elliott Wave tells the day

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
If you put Fibonacci on 0-A points of Elliott Wave you will see that Elliott Wave is moving according Fibonacci. Chart already responded to 161.8% zone going back, bouncing on 78.6% (three times) to show bullish trend, breaking all zones and stoping above 161.8%. And even started to walk over the zone. Now, a little of my thoughts, price won't go lower then 50% of uptrend, meaning that maximum welcome is 1826-25. That should be around 150-144% Fibonacci zone. Even so, it can react sooner, and just bounce now or at 1830... any questions?

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