Gold/XAUUSD 1hr Elliott Wave Count
Please reference my previous Monthly and Weekly count in order to understand where I am.
It is stated in EWP that all C waves of corrective ABC structure are Motive Waves. However, it is impossible to anticipate whether the motive will be an Impulse or a Diagonal.
In my experience I have learned that MOST of the time, we can anticipate a diagonal when it comes to Gold. (Read EWP by Frost & Pretcher for details)
With what market structure is showing us, a diagonal is exactly what I am expecting.
Remember: all Diagonals are 5-Wave structures, consisting of zigzags!
I am under the assumption that price is still forming wave 1 (zigzag) of the overall Diagonal.
For your curtesy, I have highlighted (w/ dots) key counts that helped me I.D structure.
It is stated in EWP that all C waves of corrective ABC structure are Motive Waves. However, it is impossible to anticipate whether the motive will be an Impulse or a Diagonal.
In my experience I have learned that MOST of the time, we can anticipate a diagonal when it comes to Gold. (Read EWP by Frost & Pretcher for details)
With what market structure is showing us, a diagonal is exactly what I am expecting.
Remember: all Diagonals are 5-Wave structures, consisting of zigzags!
I am under the assumption that price is still forming wave 1 (zigzag) of the overall Diagonal.
For your curtesy, I have highlighted (w/ dots) key counts that helped me I.D structure.