This is a short update of my previous Elliott waves trading signal for Gold
On a monthly chart, there is nothing new. But with the weekly close from yesterday, there is a possibility that wave (e) has ended with the bottom at 1780.
Confirmation of the end of wave 4 and the beginning of a new ascending cycle is a break in the top of wave (d) of the triangle – 1877. Currently, the critical point for this bullish scenario is the bottom of January 28, 1780. If we are at the beginning of the new upward phase, the potential here is quite serious and currently offers a good risk/return ratio.
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