XAUUSD: Elliott wave analysis and forecast for 29.10.21 – 05.11.21
Main scenario: consider long positions from corrections above the level of 1721.11 with a target of 1915.00 – 2075.27.
Alternative scenario: breakout and consolidation below the level of 1721.11 will allow the pair to continue declining to the levels of 1673.63 – 1602.20.
Analysis: Daily chart: an ascending third wave of larger degree (3) is formed, a descending correction developed as the fourth wave (4), and the fifth wave (5) appears to be unfolding, with the first wave of smaller degree 1of (5) formed inside. H4 chart: apparently, a corrective wave 2 of (5) is completed, and wave 3 of... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/j1qON
