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.
Only subscribers can read the full article.
Please log in
to read the entire text.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
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.
Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.