If you follow Elliott Wave this is leg A of an ABC retrace. From here we should expect another leg up allowing for a short term, short entry. From my last sell signal the XAU went flat and then broke down. I did not get a short signal off the system but I may pop in with some small shorts based on the wave counts. I would look for a retrace to the lower blue channel line on this chart for short entry, but would also take a look at fib levels and EW counts to get the actual price level.
Ryan at wavespeak.com ( http://www.vestoranalytics.com/vestorBoard/index.php?showforum=12 ) is one of the best ellioticians I have seen. If your into the wave you should check him out. He offers his free analysis of the XAU on my site under "The Gold Mine" link if you want to follow along.
Ryan at wavespeak.com ( http://www.vestoranalytics.com/vestorBoard/index.php?showforum=12 ) is one of the best ellioticians I have seen. If your into the wave you should check him out. He offers his free analysis of the XAU on my site under "The Gold Mine" link if you want to follow along.
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