XAUUSD: Elliott wave analysis and forecast for 23.02.24 – 01.03.24
Main scenario: consider long positions from corrections above the level of 1983.58 with a target of 2220.00 – 2300.00. Alternative scenario: breakout and consolidation below the level of 1983.58 will allow the pair to continue declining to the levels of 1916.55 – 1809.00. Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 3 of (5) forming as its part. Apparently, the first wave of smaller degree i of 3 is forming on the H4 time frame, with a local... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 1983.58 with a target of 2220.00 – 2300.00.
Alternative scenario: breakout and consolidation below the level of 1983.58 will allow the pair to continue declining to the levels of 1916.55 – 1809.00.
Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 3 of (5) forming as its part. Apparently, the first wave of smaller degree i of 3 is forming on the H4 time frame, with a local... Read full author’s opinion and review in blog of #LiteFinance
