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XAUUSD: Elliott wave analysis and forecast for 18.11.22 – 25.11.22

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XAUUSD: Elliott wave analysis and forecast for 18.11.22 – 25.11.22




Main scenario: consider long positions above the level of 1700.38 with a target of 1807.32 – 1851.11 after correction.

Alternative scenario: breakout and consolidation below the level of 1700.38 will allow the pair to continue declining to the levels of 1616.96 – 1570.70.

Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed inside. The H4 chart shows the fifth wave ((5)) forming, with the first countertrend wave of smaller degree I of 1 of 5 forming as its part. Wave… Read full author’s opinion and review in blog of #LiteFinance



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