It got a reaction from 1.272 extensions. The daily structure can be a complete correction and the next wave can make a new all-time high, or we can have a correction for more downside. It's not clear which will be the case but in both scenarios, having a long trade will be a good idea. That's why I'm waiting for a complete reversal pattern to buy it.
Elliott Wavelongtrademedium-termWave AnalysisXAUUSD

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