Yeah First have looked the story of gold how Elliot consistently gave 6000 ticks i.e 600 pips in gold short from 1262 up to 1204 at the time of writing this blog though my Avg sell was 1255 but As I was sure for correction from Economic sentiments so I kept my short with proper risk .
Now the most awaiting gold why gold going to 1324
So the story is in short for learners
Still In the channel
Movine and correcting in discipline
corrected in the worst environment up to golden fibbo at 61.8% level i.e 1206.673
So by having this little analytics we are still in longer perspective for target of 1362
Wave target is there supply is there where we could see longer correction again
You are free to ask or comments Trade safe and have nice profit .
Thanks and regards
Dipak Z.
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Gold added in long environment Aussie may follow this move and heads for next 100 pips in both gold and Aussie
If your first wave is an impulse wave, it looks kind of weird since the third wave looks like the shorter one and that would invalidate it wouldn't it?
Dipak___Z
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@iSummer, Possible but Supply level suggested to mark the level and fibo too, iSo you are correct but the chart goes like this onlyI am not able to see downside further but Let us see .
iSummer
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@Dipak___Z, I actually measured it and the third wave is not the shorter one so it holds by Elliott Wave rules.
Dipak___Z
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@iSummer, Yeah I too verified it after your suggestion Thank you !