We had a perfect Elliot wave in this last 10 week, now i will be looking to go long, i will be looking to go long in a 50% retracement of the last 4hr candle since it had a big rejection from that 1.44400 montlhy support, a more conservative approach would be waiting for the daily candle to close and if a pin bar is formed, enter long in a 50% retracement from...
Chart is a little bit messy but there is lot of confluence in that .74770 area, where there´s 61.8 retracement from last impulse leg + 161.8 expansion from a possible harmonic pattern in lower timeframes, I will get in the trade around that .74770 area :p
We can see an Elliot wave pattern in GOLD; 12345 has been completed and now we might see an ABC correction ( A and B already formed), I will trade the last impulsive leg to the downside, I will look to take profit at the 1220 zone.
We can also see a clear daily rejection at the 1255 zone, so bears might take control. Good Luck :D