Gold already completed her wave (III) and is now moving toward wave (IV).
As we may see, the wave (II) is a simple correction wave, we may expect the wave (IV) will be a complex retracement, which is WXY, perhaps 5-3-5 waves, but it's too early to say that. Anyway, that is just my 2-cent opinion.
As we may see, the wave (II) is a simple correction wave, we may expect the wave (IV) will be a complex retracement, which is WXY, perhaps 5-3-5 waves, but it's too early to say that. Anyway, that is just my 2-cent opinion.
Note
Wave (IV) may have a few patterns:1- Flat
2- Running Flat
3- Triangle
4- ABC Zigzag (5-3-5)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.