Gold: Elliott Wave Analysis and Weekly Forecast for 24-01-2022 to 28-01-2022

Gold Weekly ForecastDaily chart: an ascending third wave of larger degree (3) is formed, a descending correction developed as the fourth wave (4), and the fifth wave (5) appears to be unfolding, with the third wave of smaller degree 3 of (5) starting to form inside.

Wave i of 3 appears to continue developing on the H4 chart, with a local correction formed inside as wave (iv) of i. Apparently, the fifth wave (v) of i is developing on the H1 chart, with wave iii of (v) of i forming inside. If the presumption is correct, the pair will continue to rise to the levels of $1913.87 – $2075.27. The level of $1780.63 is critical in this scenario as its breakout will enable the pair to continue declining to the levels of $1719.30 – $1673.63.

Gold Weekly Trading Forecast

BUY GOLDMain scenario: consider long positions from corrections above the level of 1780.63 with a target of 1913.87 – 2075.27.
SELL GOLDAlternative scenario: breakout and consolidation below the level of 1780.63 will allow the pair to continue declining to the levels of 1719.30 – 1673.63.
LiteFinance: XAUUSD: Elliott wave analysis and forecast for 21.01.2022 – 28.01.2022 | LiteFinance

LiteFinance: XAUUSD: Elliott wave analysis and forecast for 21.01.2022 – 28.01.2022 | LiteFinance

LiteFinance: XAUUSD: Elliott wave analysis and forecast for 21.01.2022 – 28.01.2022 | LiteFinance

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