according to Elliott Wave theory, wave 4 ends between 38.2 to 50 % fibo, channeling is also important to determine trend reversal and continuation, in this case of Gold, wave 4 might have completed @ $1805.13, breaking of the upper channel is a secondary confirmation, now Gold is expected to continue higher towards $2,000 ++
An ABC pattern is expected to complete at the box below which will provide an opportunity to go long
we expect more selling on this pair, from the daily TF down to 1hr, and for the past 2 months USDJPY has been buying strongly, it is logical that the price will correct to the zone of 38.2-50% fibo level, watch out
according to Elliott wave strategy, after wave 4, comes wave 5, and wave 5 is expected to complete between $88-89
Silver has just completed a zigzag correction, and we are about to see it go long, once it closes above where I market buy level, we will likely see the price go up towards $23-$23.5
what have just concluded now is an expanding triangle, and if my assumption is correct, gold will go up
trying to complete wave c of B before the wave c of C
expect the correction to continue towards $127.2 and $125.8
EURJPY, from D1, it is obvious we have an incomplete sequence, selling not yet over
my view based on Elliott Wave analysis suggests that we will still see another swing high on DXY and another swing low on EURUSD, just as explained in the video
I am of the opinion that gold will still sell down to $1760 before the 5th wave starts
Based on Elliott Wave theory, the current bullish move is unfolding as ending diagonal which will soon complete, then a 3 waves structure sell will start
gold is expected to make a new high, but conservative traders have to wait for the break of the urrent high
selling down to wave 4 is expected after the current wave B pull back