Hello friends,
We are witnessing a 5-wave impulse pattern on the gold chart. Waves 1 to 5 have been completed and a zigzag of the subsequent waves has also been completed.
Now we need to check what will happen.
Usually, after each Sharpe growth, a deep correction will also occur.
All the 5 main waves have been identified and have occurred, and I would expect a correction.
Given that a zigzag wave has occurred in the correction, we can expect a triangle or most likely an Expanded Flat.
An Expanded Flat has a 3_3_5 structure, with wave C extending and growing to 161.8 times the length of wave A.
This structure consists of 2 zigzags in the majority of waves A and B, a 5-wave in the majority of wave C. If the bottom formed by wave A is broken, a sell trade can be entered.
The price target is the range of $2,750 and then $2,720.
Be successful and profitable.
We are witnessing a 5-wave impulse pattern on the gold chart. Waves 1 to 5 have been completed and a zigzag of the subsequent waves has also been completed.
Now we need to check what will happen.
Usually, after each Sharpe growth, a deep correction will also occur.
All the 5 main waves have been identified and have occurred, and I would expect a correction.
Given that a zigzag wave has occurred in the correction, we can expect a triangle or most likely an Expanded Flat.
An Expanded Flat has a 3_3_5 structure, with wave C extending and growing to 161.8 times the length of wave A.
This structure consists of 2 zigzags in the majority of waves A and B, a 5-wave in the majority of wave C. If the bottom formed by wave A is broken, a sell trade can be entered.
The price target is the range of $2,750 and then $2,720.
Be successful and profitable.
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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.
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.