Gold XAU/USD Double Zig-Zag ? 20th Oct

 As discussed,Gold price meltdown? XAU/USD Weekly Outlook 19th - 23rd Oct

It may Double Zig-Zag.


XAU/USD  elliott wave

One Zig-Zag ABC is completed ( 2075-1848)

Intermediate X wave ( 1848-1933)

Second Zig-Zag (ABC) under progress.

First A wave ( Starting from 1933) : I,II,III,IV,V pattern is going on . 

Let's zoom the I and II waves,


XAU/USD  elliott wave


It is visible five blue tiny waves of the I wave and red abc of the II Wave. 

It means the whole pattern will be a Zig-Zag Five Impulse. So now we may see III leg and V leg as an impulse which can drag gold to the lower level.

For the validate this Zig-Zag gold has to stay below Starting point of the I wave 1934.



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