ATTENTION: EURGBP is at support now, and by breaking the support we will have more downtrend.
and we have some fundamental events this week, the most important is inflation rate which is on 16/nov...
take care.
Very simple entry
GAP is holding any gains
on 1H we can see rounded top with multiple Doji candles
TP area is set up close to recent lows
All this is aligned with Fibonacci 78.60%
Elliott wave analysis shows we are currently in wave 2 which can retrace 100%. I originally noticed this on the S&P and posted about it, then realized the same thing is already happening on GOLD.
Here is the post for S&P. I just feel obligated to warn everybody.
Elliot wave analysis showing the market is currently at the top. With the current state of affairs in the world, and the fact that wave 2 can retrace 100%, this leaves open a very good possibility of a total market collapse that still conforms to Elliott rules. On a large scale, we are entering a wave 2 correction. The standard correction can be expected to...
