XAUUSD Elliot Wave Forecast - Wave 2
The chart illustrates a regular flat within the longer term correction which consists of a 3-3-5 wave sequence (A,B,C). Currently unfolding is the subdivision of Wave C which began from the November high of 1877.14.
Wave 2 is typically 38.2%, 50%, 61.8%, 76.4%, or 85.4% of wave 1.
Sustained pressure saw an eventual break of the resistance at the 0.618 fib level before halting at the 76.4% level. The pull back could extend further to the 85.4% towards 1859 before resuming the final stages of the correction. On the contrary, wave 2 is now potentially complete.
I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
Wave 2 is typically 38.2%, 50%, 61.8%, 76.4%, or 85.4% of wave 1.
Sustained pressure saw an eventual break of the resistance at the 0.618 fib level before halting at the 76.4% level. The pull back could extend further to the 85.4% towards 1859 before resuming the final stages of the correction. On the contrary, wave 2 is now potentially complete.
I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
🔰 Not financial advice. For educational purposes only.
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BeyondEdge
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
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