Basic view of Elliot's wave analysis for Gold view. Currently we can see sell side Liquidity in sight and that WILL be my next range target.
We have been consolidating for a while now suggesting a firm breakout soon. After an abc pattern there is suggested to be an impulse wave to commence. Once sweeping sell side liquidity I will be either waiting for a break and retest of the Liquidity trend before impulsing into a new high range OR getting a firm Bearish breakout towards the downside.
Either at this point are quite likely. I usually only buy into gold but we are at a critical point for gold and the US dollar so keep your eyes locked!
We have been consolidating for a while now suggesting a firm breakout soon. After an abc pattern there is suggested to be an impulse wave to commence. Once sweeping sell side liquidity I will be either waiting for a break and retest of the Liquidity trend before impulsing into a new high range OR getting a firm Bearish breakout towards the downside.
Either at this point are quite likely. I usually only buy into gold but we are at a critical point for gold and the US dollar so keep your eyes locked!
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