#XAUUSD - (Chart Link)
🔮 Elliott Wave isn't a crystal ball; it's a framework. Plan for multiple scenarios, then let price action confirm the path. Adapt or lose.
Yesterday I shared with you our detailed plans in #XAUUSD. There are 2 scenarios we are actively following right now.
🔹 Blue Scenario:
• The 4th wave may have formed in the running flat pattern. In this case, the invalidation level is 3.339,048. Using this level as SL and setting the 5th wave as a target would be an unnecessary risky trade with low RRR. Therefore, trading after the big correction that will occur after the 5th wave will be a much more logical trade in terms of RRR.
🔸 Orange Scenario:
• The 5th wave is formed in the ending diagonal form and the correction is likely to correct to the area between fib 50-61.8. We will follow this scenario after the blue scenario is canceled.
👉🏻 According to both scenarios, we have a trade plan to enter at the right time, at the right price. A trade potential with an RRR of around 1:8!
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