Elliott Wave Analysis of Gold

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hello Friends

Welcome to our Elliott Wave analysis of the Gold chart! This analysis helps us make sense of Gold's price movements by spotting repeating patterns. Think of it like finding familiar footprints in the sand.

Imagine Gold's price as a series of waves. Elliott Wave theory suggests that these waves repeat in predictable patterns. We'll be looking for five main waves within an overall trend and smaller waves in between.

The goal is to figure out where Gold might be in its current wave pattern. This can give us clues about whether the price might go up or down in upcoming days.

Remember, no analysis is a crystal ball. While Elliott Wave can be helpful, it's just one piece of the puzzle. Market news and events also matter.

By understanding these wave patterns, we aim to predict potential future movements in Gold's price. So, let's ride the waves of analysis and see what they might tell us about Gold's journey ahead.

Overall it looks little down first, then little big contra trend upside near $ 1910 or more, and then again down continuation towards $1820 - $1850 might be.

I am not Sebi registered analyst. My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.

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I am not sebi registered analyst.
My studies are for educational purpose only.

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