XAUUSD: Elliott wave analysis and forecast for 05.11.2021 – 12.11.2021
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 has 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... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/j1XQF
