The third wave of the largest gold price peak
Greetings,
Dear friends, I hope you are well and have a week full of successful and profitable transactions.
My analytical view:
In the case of the gold market, the fourth wave concept was the triangle pattern I shared in recent weeks. Subsequently, we have seen the advance of the price action with an impulse pattern. Now, we have a completed zigzag pattern that has ended in a corrective channel, and waves 1 and 2 are labeled accordingly.
We are now waiting for the price movement and the B wave price to break through the zigzag pattern and show the green light for trades. However, this is only the beginning of the third wave. Confirmation becomes more reliable as it crosses the previous price ceiling and peaks at the same level to complete the fifth wave and at the level of the larger wave in the third wave.
Alternatively, a breakout after a triangle pattern may indicate the width of a triangle, while a triangle pattern in the commodity market may indicate the longest wave of that trend.
Note: I am an analyst in the world of principle wave, who has entered the fourth year of my work experience, and I am developing an analytical idea. In financial markets, there is no 100% certainty due to the complexity of different patterns that can change. However, I do my best to back up every analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future, simply.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except to explain the current analysis because I also trade in the financial markets and I am active in my social networks, and I work hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis.
First of all, I wish good health and success to all my dear friends and colleagues.
Mr. Nobody
Dear friends, I hope you are well and have a week full of successful and profitable transactions.
My analytical view:
In the case of the gold market, the fourth wave concept was the triangle pattern I shared in recent weeks. Subsequently, we have seen the advance of the price action with an impulse pattern. Now, we have a completed zigzag pattern that has ended in a corrective channel, and waves 1 and 2 are labeled accordingly.
We are now waiting for the price movement and the B wave price to break through the zigzag pattern and show the green light for trades. However, this is only the beginning of the third wave. Confirmation becomes more reliable as it crosses the previous price ceiling and peaks at the same level to complete the fifth wave and at the level of the larger wave in the third wave.
Alternatively, a breakout after a triangle pattern may indicate the width of a triangle, while a triangle pattern in the commodity market may indicate the longest wave of that trend.
Note: I am an analyst in the world of principle wave, who has entered the fourth year of my work experience, and I am developing an analytical idea. In financial markets, there is no 100% certainty due to the complexity of different patterns that can change. However, I do my best to back up every analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future, simply.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except to explain the current analysis because I also trade in the financial markets and I am active in my social networks, and I work hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis.
First of all, I wish good health and success to all my dear friends and colleagues.
Mr. Nobody
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