Is 5th wave over? Are we going for correction? (Must Read)
I only trade through Elliot Wave and these are my findings.
1. 1st wave was in extension with total of 21 moves
2. 2nd wave was a Flat correction and retrace the 23.60% of 1st wave
3. 3rd wave was extensive with total of 9 moves
4. 4th wave was a Zig-Zag correction and also retrace the 23.60% of 3rd wave which makes both 2nd wave and 4th wave similar in nature of percentage drop.
5. 5th wave minimum target is 127% and maximum is 261.80% and the price showed rejection from the 261.80% (2365.196)
6. Price is moving through a channel.
We have CPI tomorrow. What we should do now?
If we see the DXY (Dollar Index) 4 hours chart, we can see a clear Flat Correction is completed today and which is making the Dollar Index to start an impulse move.
In other word, Gold should start its correction and this correction will be a Major Correction (Time Consuming)
So according to my analysis Gold is preparing for a correction.
I will attach the DXY (4 hour chart) in comment and you will see the clear picture why Gold should start correction and DXY an impulse move.
I never follow others analysis because I believe in myself and it has helped me to earn more money and also helped me to protect my capital when I am wrong.
1. 1st wave was in extension with total of 21 moves
2. 2nd wave was a Flat correction and retrace the 23.60% of 1st wave
3. 3rd wave was extensive with total of 9 moves
4. 4th wave was a Zig-Zag correction and also retrace the 23.60% of 3rd wave which makes both 2nd wave and 4th wave similar in nature of percentage drop.
5. 5th wave minimum target is 127% and maximum is 261.80% and the price showed rejection from the 261.80% (2365.196)
6. Price is moving through a channel.
We have CPI tomorrow. What we should do now?
If we see the DXY (Dollar Index) 4 hours chart, we can see a clear Flat Correction is completed today and which is making the Dollar Index to start an impulse move.
In other word, Gold should start its correction and this correction will be a Major Correction (Time Consuming)
So according to my analysis Gold is preparing for a correction.
I will attach the DXY (4 hour chart) in comment and you will see the clear picture why Gold should start correction and DXY an impulse move.
I never follow others analysis because I believe in myself and it has helped me to earn more money and also helped me to protect my capital when I am wrong.
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Those who follows my analysis I hope you guys are making tons
Those who follows my analysis I hope you guys are making tons
