XAUUSD Daily Wave Analysis

11 Oca 2020

Gold made an interesting move last week and showed its hand. Have a look at my Elliott wave analysis:

• The last weeks we had another impulse to the upside after a long and complex correction
  
• This was the fifth and is labelled as Wave 5
  
• As you can see Wave 5 = Wave 1 (100%)
  
  
• We reached to liquidity area and the upside of the channel
  
• A nice Pinbar Sell signal was formed and price immediately lost 70$
  
• We are currently retracing, and wait for a better entry to enter with another short for the upcoming downside move.