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XAUUSD Daily Wave Analysis

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Trend Analysis Elliott Wave financialfreedomtrading Gold XAUUSD priceaction
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trendanalysis elliottwaves financialfreedomtrading gold xauusd priceaction
Gold made an interesting move last week and showed its hand. Have a look at my Elliott wave analysis:

  • The last weeks we had another impulse to the upside after a long and complex correction
  • This was the fifth and is labelled as Wave 5
  • As you can see Wave 5 = Wave 1 (100%)

  • We reached to liquidity area and the upside of the channel
  • A nice Pinbar Sell signal was formed and price immediately lost 70$
  • We are currently retracing, and wait for a better entry to enter with another short for the upcoming downside move.

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