XAUUSD ABC Expanded Flat in Formation.

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
ABC Correction on XAUUSD in play. Previous yearly high break indicates an Expanded Flat formation within which Wave B is typically between 0.78% and 1.38% of Wave A (Purple box on chart outlines this area). As you can see price broke above the 0.78% and can potentially reach the 1.38% which is at 1799.18. If this occurs then Wave C is expected to put in a deeper retracement than Wave A.

Another possibility is a shorter wave B at around 1737-1743 area which results in a shorter Wave C. Will see how it plays out this week.

This is not trading advice and is expected to be used for analysis purposes only.

Trust your own analysis.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out