XAUUSD is forming a triangle on the wave ((4)).
This correction has taken more than 17 months, but the triangle is not over yet. Price has completed wave D of the 4th wave triangle, and wave E of wave A is in progress.
After completing the wave sub-wave A, the price will start wave B & then wave C.
The ending point of wave E is the starting point of the impulsive cycle.
Calculation of wave E:
Wave E can end 100% of wave sub-wave A at 1726.
Wave E can end near previous sub-wave B at 1719
Wave E can end at 100% of wave D at 1704.
Traders can wait for the breakout of the B-D trend line. Note that if the price doesn’t break the B-D channel, sideways will be continued.
Please log in to read the entire text. If you don’t have a login yet, please subscribe now to get access.
Get free forex & currency ideas, chart setups, and analysis for the upcoming session: Forex Signals →
Want to get premium trading alerts on GBPUSD, EURUSD, USDINR, XAUUSD, etc., and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Forex Signals
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Research Reports, Premium screens, and much more. You΄ll quickly identify which commodities to buy, which to sell, and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Love you count!
This wave count is fully acceptable for me.
Thank you for sharing this wonderful work, and keep sharing it. I found it helpful.
You are a master of the wave principle.
This chart is a master one. please share gold regularly
Thank you for sharing this chart. I am very thankful
Quality post, will keep an eye on this for sure
Good approach, I see it similar.
Great Analysis as Usual!
This is clean!
Detailed and simple
after all i see this market bullish like ur view