XAUUSD - Metals Trading | Elliott Wave Structures I Q2 2019

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XAU/USD - Elliott Wave Outlook

Bullish Swings - Patterns:
Cycle Degree Contracting Triangle (turquoise)
ABC sustained bullish swing in Cycle D (turquoise)

Bearish Swings - Patterns:
ABC Wedge Formation in Intermediate (A) (blue)

Next expected swing:
Bullish sequence in Intermediate (B) (blue)

Structure change:
A bearish continuation in an impulsive manner could lead towards a breach of the Fibonacci lines and could then result in a down-trend confirmation.