Elliott Forecast - Bullish Elliott Wave Outlook in Gold (XAUUSD) | ResearchPool

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Elliott Forecast

Daud Bhatti

Bullish Elliott Wave Outlook in Gold (XAUUSD)

March 17, 2023 By

Gold (XAUUSD) ended wave (4) at 1803.84. From here, it rallies as a 5 waves impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 1858.33 and pullback in wave ((ii)) ended at 1809. The metal then resumes higher in wave ((iii)) towards 1914.60. Pullback in wave ((iv)) ended at 1885.40. Final leg higher wave ((v)) ended at 1937.31 which completed wave 1.

Wave 2 pullback is now in progress to correct cycle from 2.28.2023 low in larger degree 3, 7, or 11 swing before the rally resumes. Wave 2 is proposed to be unfolding as a . Down from wave 1, wave (a) ended at 1907.1 and wave (b) rally ended at 1933.42. While below wave 1 at 1937.31, expect Gold to extend lower in wave (c) of ((w)). Afterwards, it should rally in wave ((x)) before turning lower again in 3 waves to end wave ((y)) of 2. If Gold breaks above 1937.31 instead, then that means Gold is still in the process of ending wave 1. Near term, as far as pivot at 1803.84 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Gold 60 Minutes Elliott Wave Chart

XAUUSD Elliott Wave Video

Source:-forecast.com/news/bullish-elliott-wave-outlook-gold-xauusd/

#trading #elliottwave #XAUUSD

17/03/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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