ABC Correction on XAUUSD in play. Previous yearly high break indicates an Expanded Flat formation within which Wave B is typically between 0.78% and 1.38% of Wave A (Purple box on chart outlines this area). As you can see price broke above the 0.78% and can potentially reach the 1.38% which is at 1799.18. If this occurs then Wave C is expected to put in a deeper retracement than Wave A.
Another possibility is a shorter wave B at around 1737-1743 area which results in a shorter Wave C. Will see how it plays out this week.
**Disclaimer**
This is not trading advice and is expected to be used for analysis purposes only.
Trust your own analysis.
Another possibility is a shorter wave B at around 1737-1743 area which results in a shorter Wave C. Will see how it plays out this week.
**Disclaimer**
This is not trading advice and is expected to be used for analysis purposes only.
Trust your own analysis.
🔰 Not financial advice. For educational purposes only.
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🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter www.twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge