XAUUSD: Elliott wave analysis and forecast for 17.02.23 – 24.02.23
Main scenario: consider short positions from corrections below the level of 1889.72 with a target of 1788.55 – 1747.55. Alternative scenario: breakout and consolidation above the level of 1889.72 will allow the pair to continue rising to the levels of 1961.31 – 2050.00. Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed and the fifth wave (5) unfolding inside. Apparently, the first wave of smaller degree 1 of (5) is formed on the H4 chart, and a local correction is developing as the... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 1889.72 with a target of 1788.55 – 1747.55.
Alternative scenario: breakout and consolidation above the level of 1889.72 will allow the pair to continue rising to the levels of 1961.31 – 2050.00.
Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed and the fifth wave (5) unfolding inside. Apparently, the first wave of smaller degree 1 of (5) is formed on the H4 chart, and a local correction is developing as the... Read full author’s opinion and review in blog of #LiteFinance
