Gold Sets Sail for Northern Horizons! – Elliott Wave Binary Options Analysis

The bigger picture for Binary Options in Gold (XAU/USD) appears to be confirmed Bullish, with revised short-to-medium term targets in the $1435 – $1590 price area.

Gold (XAU/USD) is currently in a Minor Wave 3 of a bigger Cycle Wave 3 correction of the recent Bear Market.

On the short to medium term, Gold appears to have completed Minor Wave 2 of the above Cycle Wave 3, with Wave 2 finishing at the 100.0% retracement level of Minor Wave 1, with Wave C of Minor Wave 2 completing at exactly the 100% retracement of Minor Wave B — This is grounds for Major Wave 3 extending or atleast completing 161.8% of Major Wave 1 in the coming weeks and months.

What does this mean for Binary Options traders eyeing Gold (XAU/USD) in the coming days?

If price continues higher, we are likely to see a further impulsive long move towards short-to-medium term targets of around the $1435 area, followed by a short term bearish correction, before subsequent movement long again.

High or Call Binary Options 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, if price continues bullish.

The chart below illustrates Gold’s current momentum.

Click The Binary Options Elliott Wave Chart Below To Expand:

XAUUSD - Primary Analysis - Mar-16 1240 PM (1 day)

XAUUSD – Primary Analysis – Mar-16 1240 PM (1 day)

 

 

 

 

 

 

 

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

Why Choose Us As Your Safest Binary Options Broker?

Audited Regulated BrokerTrading with Binary International offers traders the opportunity to not only utilize a Highly Advanced, Fast & Efficient Trading Platform to their advantage! Our Third-Party Software Programming Vendors also provide our traders with High Quality Tools, to assist them in their trading efforts on all timeframes.

Major Benefits for Binary Options Traders Also Include:

  • Trade Forex, Stocks, Indices & Commodities all in one account!
  • 100% Free Short-Term Trading Software for all new account holders.
  • Super Fast Execution, Super Fast Withdrawals – Guaranteed.
  • Trade 30/60 second, 5/15-minute, 60-minute and Daily Binary Options & more!
  • Friendly, 24×7 Trader Support at your service!
  • Guaranteed Fast Withdrawals, Fast Execution & 24×7 Support!