Gold XAUUSD H1

General Overview for 17/02/2014:

The BEFROE chart (small one) has been published in VIP SERVICE on 02.02.2014 indicating possible wave 5 of wave C truncation and a impulisve bullish trend resumption. The price at that time was $1240 and we had our buy signals entry from 1266 and 1270. Price has hit the longer time target level @ $1310 as well.
Currently this count is in critical place right now: it is either the top for wave (c) and wave C
OR the alternate count is in play here with even more higher targets.
For a healthy correction the break  of the level of $1320 is needed
first and then the level of 1313 must be broken as well. If thise level
are broken there is a chance for a pullback tot he 1307 area and trend
resumption. Otherwise any new high is bullish as the laternet count has
not been finished yet despolite the face that the orange rectangle
target level has been hit – it might extend to the upside a little more.

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About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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