cfetrader
Short

Gold in a corrective phase

FX:XAUUSD   Gold Spot / U.S. Dollar
192 2 6
After the end of the 3rd rising wave at 1263.37, gold             is following an A-B-C corrective course. The apparent completion of the B-wave heralded by a head & shoulders formation & coupled by a Gartley pattern may lead towards the first target around 1210-1213. Although at first glance the C-wave             may seem a simple W-X-Y             , a much more complex Y in extended form could unfold in the future. All will be revealed in due course.
Totally agree with your perfect analysis! Nice job! Seems bears won this time )
+1 Reply
cfetrader Andrey.Ustinov
Thank you Andrey for your appreciation of my work. Admittedly, it took me a few efforts to arrive at this gold price oscillation analysis, and I also believe that the time is right for a deeper correction. Will this represent a 4th wave or something more ominous, remains at the moment a difficult puzzle to solve.
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