Gold Futures Elliott Wave Options CFDs 12 April 2019
Gold 1 Hour Chart
Friday, 12 April 2019 at 13:26 GMT
Gold made a perfect decline from ideal 61,8% Fibo. retracement and currently it remains under bearish pressure, so we can expect even more weakness towards new lows within a new five-wave cycle, just be aware of pullbacks. Invalidation level can be now moved to 1310.
Gold 4 Hour Chart
Friday, 12 April 2019 at 07:11 GMT
GOLD is dropping sharply, giving us confirmation that a corrective A-B-C retracement is completed, and that a five-wave bearish move is in play. As such be aware of more weakness towards and below the 1280 level. That said, temporary pullbacks may also join current dwontrend, and wave 2 can be next, which can start at the 1288 level.
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Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
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