Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of GOLD (XAUUSD) , published in members area of the website. As our members know, GOLD ended cycle from the 2314.99 low as 5 waves structure. The commodity is now giving us pull back against the 2314.99 low. Let’s break down our Elliott Wave forecast further in this article.
GOLD H1 Asia Update 06.07.2024
The current view suggests that GOLD is about to complete cycle from the 2314.99 low. We can count 5 waves pattern labeled as i,ii,iii,iv,v red. There is already enough number of swings in place, so pull back can start any moment.
GOLD H1 London Update 06.07.2024
GOLD completed cycle from the 2314.9 low as expected and currently giving us wave (ii) blue correction. We got very sharp decline from the peak, which indicates we are doing impulsive move which can be first leg a red of a potential Elliott Wave Zig Zag Pattern.
