meszaros
Long

XAUUSD begins to rise...

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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XAUUSD begins to rise. The rise can occur in a triple wave structure. Correction levels for elevation can be obtained by intersecting ATR axes. This is common in the formation of Elliot waves. The rise of the first wave is expected for a multi-day rise sequence. The first correction can be in the range of 1274 usd. Then after a correction of 15-20usd it enters the second wave structure. As we expect a higher exchange rate than the ATR axis angle, we expect a larger correction at the end of the second wave. Its magnitude is no greater than the actual ATR angle (purple line). Then we expect the third wave structure, the speed of which will be greater with the momentum of the day. For a rise of 1400 usd.
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