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MendiUser

Gold Correction Due - before this week market close

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Ouro/Dólar Americano (PEPPERSTONE:XAUUSD)  
MendiUser  
PEPPERSTONE:XAUUSD   Ouro/Dólar Americano
Wave Analysis Elliott Wave Fibonacci elliotwaveanalysis elliottwaveprojection elliottwaveretracement correction goldprediction shorttrade careful
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XAUUSD

Following the principles of #ElliotWaves, when waves 1 and 3 form without any extension, then wave 5 tends to make approximately the same magnitude in the same amount of duration.

Wave 1 - Magnitude - ~ $76+ in ~ 2 D and 17 hrs
Wave 5 - Magnitude also made ~ $76+ (Short of 60 cents) in ~ 2D 11 hrs as of this post.

In this scenario, when there was no extension in the impulse waves, the correction would be till 0.618 to .50 Fib Retracement Level 2226 - 2200 Range.
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