Elliott Wave Binary Options Analysis of Gold (XAU/USD)

The bigger picture for Binary Options in Gold (XAU/USD) appears to stay Bearish, with long-term targets in the $880 – $1060 price area.

Gold (XAU/USD) is currently in a Major Wave C of a bigger Cycle Wave II correction of the Bull Market since 2007.

Low or Put Binary Options hence have a higher probability of success on the Daily Timeframe (ending at 20-21:00 GMT), entry prices being carefully considered on the 4-Hour timeframe before execution.

The chart below illustrates Gold’s current decline – It is possible that Minor Wave 2 of Major Wave C is complete, having retraced around 61.8% of Minor Wave 1, a common retracement target for Wave 2 in general.

Click The Binary Options Elliott Wave Chart Below To Expand:

Gold XAU/USD Binary Options

Should Gold (XAU/USD) start to decline, it will be a very powerful decline – Binary Options traders will stand to make better decisions when pursuing the price in this current downtrend.

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