Gold ongoing correction to continue (Elliott Wave Analysis)

After completing a double Zig Zag type of correction (discussed in my previous post) Gold now seems to be going up in an impulse, however the currently it seems to be in Wave 2 which looks like a Zig Zag indicating that prices can head lower from 12000 to 1175 region.

This is the main count as of now and the leg one seems to be a Leading Diagonal, other counts exist like Gold following a 1-2, 1-2 kind of Wave structure but the most fitting count is what I have presented here.


Gold Elliott Wave Analysis 9th March 2017 onwards

Gold Elliott Wave Analysis 9th March 2017 onwards


In view of this count the strategy for trading still remains the same, Gold is still a buy on dips, the essential levels are all been displayed on the chart.

I will update further as market progresses.

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