Gold Bullish Elliot Wave
Short 19 if it extends to the bearish channel resistance so long as price hasnt begun its 5 wave.
During Golds last correction from 2011 to 2015 off a parabolic bullish run, gold pulled back to a 61.8% fib level from its true swing high to swing low, this was after heavy memoentum where it re entered into another parabolic bull run in 2019.
This correction seems like a micro fractal of the aforementioned.
until then I am looking to play the range off the 1900 and 1700 levels.
If it does reach down back to 1700 i am looking for the beginning of a bullish parabolic run to at least most recent highs but likely higher due to current relevant events and their impact on the values of the DOLLAR and GOLD.
During Golds last correction from 2011 to 2015 off a parabolic bullish run, gold pulled back to a 61.8% fib level from its true swing high to swing low, this was after heavy memoentum where it re entered into another parabolic bull run in 2019.
This correction seems like a micro fractal of the aforementioned.
until then I am looking to play the range off the 1900 and 1700 levels.
If it does reach down back to 1700 i am looking for the beginning of a bullish parabolic run to at least most recent highs but likely higher due to current relevant events and their impact on the values of the DOLLAR and GOLD.
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