Gold made an interesting move last week and showed its hand. Have a look at my Elliott wave analysis:
- The last weeks we had another impulse to the upside after a long and complex correction
- This was the fifth and is labelled as Wave 5
- As you can see Wave 5 = Wave 1 (100%)
- We reached to liquidity area and the upside of the channel
- A nice Pinbar Sell signal was formed and price immediately lost 70$
- We are currently retracing, and wait for a better entry to enter with another short for the upcoming downside move.
