XAUUSD: Elliott wave analysis and forecast for 19.02.2021 – 26.02.2021
Main scenario: consider short positions from corrections below the level of 1853.98 with a target of 1718.57 – 1668.45.
Alternative scenario: breakout and consolidation above the level of 1853.98 will allow the pair to continue rising to the levels of 1960.41 – 2073.73.
Analysis: Daily time frame: presumably, the ascending third wave of larger degree (3) formed, and a descending correction continues developing as wave (4). Apparently, wave C of (4) is developing on the 4H time frame, with wave iii of C forming inside. Wave of smaller degree (iii) of iii is developing on the H1 time frame. If... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/5o1r
