Posted on: 4 May 2020 Posted by: profitlio Comments: 0

Whats Happening with XAU Pump & Dump? Understanding the Pattern! Elliot Waves Strategy!

https://www.tradingview.com/chart/XAUUSD/7JhZeDnK-Whats-Happening-with-XAU-Pump-Dump-Understanding-the-Pattern/

First of all take a look on D1 structure. It is a perfect retracement while I measure the fibs on this excellent D1 Elliot waves. We have a previous retracement done up to 61.8% fib. And the current retracement is sitting in the level of 61.8% too.

Now in the 4h timeframe the Elliot wave is clearly identified. So We can see that Second wave has done its 61.8% retracement at 1722.79 Price level,

Currently we’re sitting on the 4th Wave which has completed its 61.8% Retracement while we’re expecting a downside push ( bearish ) As the 5th Wave to complete the Elliot Waves perfectly in style. The Expected target will be around 1660-1645 Price Level

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