XAUUSD - Gold - Potential 5th Wave Short

We have used our Elliott Wave Indicator suite for TradingView to setup this potential Short Swing Trading opportunity for Gold XAUUSD on the 2hr Chart

The wave 4 has found resistance in our green probability pullback zone, representing an 85% probability of our automated 5th wave target at 1437.5 being hit. The rules for our False breakout Stochastic and Elliott Wave Oscillator have also been met. The risk to reward is great into our automated 5th wave target zone, in blue on the chart, with entry for this potential long 5th wave move at 17.24. The stop is just above the wave 4 pivot at 1471.10

A sensible entry strategy below our special 6/4 MA low gives us a short entry at 1459.90....

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