XAUUSD - Updated - Price still following the Elliot ABC Ret wave
Just an update on where we are.
I added the red Elliott ABC retraction wave to accomodate the new path and left the old purple one to show where we started. This is the first time mapping out a elliott wave so i am expecting to improve the predicting of turnpoints each time. (well maybe not predicting but mapping out historical averages of them)
Still its following the plan perfectly. The curve downward to point C is nice and parabolic so near its end.
If the ABC is not followed by a 3 and 4 cycle wave down (and opening the path for a new downward elliott wave but shoots up, we are in for some good times as it will mean we have started a new upward Elliot Wave Cycle.
I added the red Elliott ABC retraction wave to accomodate the new path and left the old purple one to show where we started. This is the first time mapping out a elliott wave so i am expecting to improve the predicting of turnpoints each time. (well maybe not predicting but mapping out historical averages of them)
Still its following the plan perfectly. The curve downward to point C is nice and parabolic so near its end.
If the ABC is not followed by a 3 and 4 cycle wave down (and opening the path for a new downward elliott wave but shoots up, we are in for some good times as it will mean we have started a new upward Elliot Wave Cycle.
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