Elliot Wave on Gold

I'm looking forward for a major reversal down bearish and perform right shoulder of the Head-and-Shoulder reversal pattern. Otherwise, please be extra careful if this scenario invalid when another further bullish happen to finish uncomplete b white, Double-Top pattern probably.

Elliot Wave on Gold

Daily Chart
I'm looking forward for a "Head and Shoulders" pattern to be valid. This might lead for a major reversal and a bearish trend.

H4 Chart
We might see another bullish movement until the price touch 61.8% Fibonacci retracement area, before expecting continuation reversal of bearish trend to c-white. If the price breaking further up, it might be just a "bull-trap" to complete sub wave inside b-white, as long as 100% of Fibo retracement remain intact.

Elliot Wave's Prechter Interview About Dollar, Stocks

Aug. 11 (Bloomberg) -- Robert Prechter, founder and chief executive officer of Elliot Wave International, talks with Bloomberg's Pimm Fox about the outlook for the U.S. stock market and dollar. He speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

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