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wayusa

Short Gold @ 1229.5 after Bearish Crab pattern completion

Short
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
wayusa Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD short Elliott Wave correction Gold harmionics Crab
6
3
xauusd short elliottwaves correction gold harmionics crabpattern
Potential reversal in gold @ 1226 -1231 area
  • wave 3 = wave 5 of expanding ending diagonal
  • a of 5 = c of 5
  • Bearish Crab potential reversal zone
Comment:
Good long trade from risk-reward perspective is possible here. Price is supported by trendline, 200 MA and last but not least this EW count ;)

snapshot
Comment:
Another possible EW count I watch, suggests Gold might be in a corrective W-X-Y sequence already denoting running flat as W and possibly zigzag as Y. This may take us lower, to 1190 - wave 4 of (5) from previous structure and 0.236 retracement level from 1207 high.

snapshot
Comment:
No sign of reversal, don't catch a falling knife

snapshot
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