elliot wave analysis for xauusd

Jul 3, 2019

we have a five bullish impulse wave in h4 that can be the wave 1 in the daily time frame, price cant creat a higher high (till now) and even there is a cluster for probable wave 5 target, we also have a diagonal resistance in daily time frame that its very important, the momentum of wave 5 is slow that could be a -rd in macd, and poteintial of double top (if wave 5 failed to reached), now we should be patience and if the trend line break we get into a sell position with the sl above wave 5.