Gold XAU/USD Weekly Outlook 2nd- 9th Oct

 Gold 4H Elliott wave  : 

Expected Pattern Flat - ZigZag - Triangle 

On higher time frame gold is in 4th wave and we expecting Pattern Flat - ZigZag - Triangle as showing in the chart.

XAUUSD Elliott wave


W wave: completed at 1848

X wave: Unfolding as zig-zag ABC and A wave is in progression.

A wave may complete around 1915-1923

B wave Low around 1885-1873 is expected as 50 to 61.8% Fibonacci retracement of A wave 

C wave Target is expecting 1961-1988

Let's zoom the x wave:

XAU/USD waves


we can see A wave of the X wave is unfolding as five Impulse 12345 and 5th wave is going to complete near 1915-1923.

5th wave is unfolding as ending diagonal 3-3-3-3-3 structure. 

After completing the A wave, we may see correction as abc up to 1885-1873 as B wave.







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