Did 5 waves to the upside on daily timeframe. Hit strong resistance levels around 1.03444. Currently on wave 2 within correction wave A, which means wave 3 will drop soon. Im thinking a drop to 50% fibonacci levels.
If gold closes above the top trend line, theres high chances were continuing bullish. If gold closes beneath the resistance (purple horizontal line) we will continue bearish until the red horizontal line
We had a big drop last night. XAUUSD on a short term bullish wave. Now it looks like past support is new resistance. Im thinking there will be a drop to complete this corrective C wave, and then we may test resistance again and perhaps break through
Simple analysis on gold. Price has finished 3 waves to the upside and will now continue this short term bearish trend until the 38.2 levels. Afterwards we should see the final wave 5 push to the upside
Looks like usdjpy finished wave 3 and 4 within wave A to the downside. Testing 61.8 fibonacci levels, there should be one last drop to the 78.6 levels to complete wave 5 within wave A. Then B and C Follow.
USDJPY is on an abc correction to the downside. were currently on wave 3 within wave A. And within that wave 3, were also on wave 3. We should see a big drop. News coming out soon as well. should see lots of volatility. use proper risk management. On my chart here i have fibonacci, elliot waves, and pivot points.
Looks like eurusd finished wave one to the downside. It appears were on wave 2 now. Looking to take a short position around 1.06600-1.06685 levels. wave 3 comes next which should give us a big drop to the downside.
Yesterday I made a mistake on my USDJPY idea. I was thinking it was doing a 5 wave impulse to the downside, but It isnt. USDJPY finished 5 waves to the upside and now we should see an ABC correction to the downside. Its possible wave B has finished, and now well see 5 waves down within this C wave to the downside. Another possibility is that were only on Wave A to...