Gold (XAU USD) possible up progression (Elliott Wave Analysis) 23rd June 2017 onwards


After the 1240 low it seems that Gold (XAU USD) has already completed the first Impulse and is currently in a Flat Correction to complete the Wave 2.

This pattern is to be analyzed closely as after the completion of Wave 2 there will be a very good trading opportunity, given that this count plays out as expected.

 

Gold (XAU USD) possible up progression (Elliott Wave Analysis) 23rd June 2017

Gold (XAU USD) possible up progression (Elliott Wave Analysis) 23rd June 2017

 

A break directly above the R1 level from here will mean that the Wave 2 completed where I have marked as Wave a of 2 however that is less likely.

I will update further as this market progresses.

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