Article By RoboForex.com
Analysis for September 25th, 2014
In our previous review, “According to the scenario. Wave analysis of XAU/USD for 22.09.2014”, we discussed a possible scenario how the price may form an ascending correction iv of (v) of the final descending impulse (v) of [c] of A.
Probably, the pair completed an extended descending impulse iii of (v) of the final impulse (v). Right now, the market is forming an ascending correction iv of (v), which may take the form of a long horizontal pattern. After this correction, the price is expected to make the final descending movement inside wave v of (v).
Indeed, a couple of zigzags, [A] of iv and [B] of iv, formed around a horizontal axis, may become the start of a long horizontal correction iv of (v). If this assumption is confirmed, one can use the direction of the price movement it to one’s own profit.
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
RoboForex Analytical Department
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Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
