Gold Elliot Wave 15 min 21st Jan 2020

XAU/USD Elliott Wave Analysis :

Elliott Wave 

As discussed in the Previous Blog , XAU/USD (Gold) Elliott Wave Analysis  Gold (XAU/USD Spot)  has completed Five Waves which was Started from 1445 to 1611 and correction in ABC forms seems completed at 1535.Now the Lower degree of  1st wave is started from 1535 and presently in the 3rd wave.

1st wave: 1535 to 1560

2nd wave: 1560-1547 ( 50% Retracement of 1st Wave ) Simple ZigZag Correction 

3rd Wave Forecast : 1547 to 1587 ( 1.618% of 1st Wave ) 

4th Wave complex Correction expected to  1578 -1571 

5th Wave: Expected 1575 to 1613

XAU/USD 15 Min Elliott Wave analysis Chart
XAU/USD 15 Min Elliott Wave analysis Chart 
On lower degree, 5th Wave of the 1st wave has been finished at 1568 and ABC Correction is goin on which will be completed approximately fibonacci retracement betweeen 1553-1548.Next 3rd impulse wave is forecasted on the chart.

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