$XAU - Market Analysis for Aug 23rd, 2018

Gold successfully held support for a 4th wave under the impulsive blue count so far, now the question is can it reach a new high for 5 waves up off last week's low? If not, and price rolls over again, then the red count assumes control as only 3 waves off the low.

XAU A0-FX - Intraday - Aug-23 0706 AM (15 min)
XAU A0-FX - Intraday - Aug-23 0706 AM (15 min)
Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.