If my wave counting is correct, we are in the 4th wave of a strong uptrend which seems is getting to be completed because of 3 possibilities:
1- The expected area as shown on the chart with a green arrow can make a trend line with the same angle as our already proven daily trend line to make a channel
2- It's almost 50% of Fibonacci retracement and usually gold does 50%
3- It's the possible area for a smaller "5 wave structure" (purple) and it should not enter the area of its own First wave
Let's see how it works 😉
Happy Trading, Stay Green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
💬 Please let me know your view about the idea
🔗 Check out the "Related ideas..." in the links below too
Find us on social media 😉
➖➖➖➖➖➖➖➖➖➖➖➖➖
1- The expected area as shown on the chart with a green arrow can make a trend line with the same angle as our already proven daily trend line to make a channel
2- It's almost 50% of Fibonacci retracement and usually gold does 50%
3- It's the possible area for a smaller "5 wave structure" (purple) and it should not enter the area of its own First wave
Let's see how it works 😉
Happy Trading, Stay Green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
💬 Please let me know your view about the idea
🔗 Check out the "Related ideas..." in the links below too
Find us on social media 😉
➖➖➖➖➖➖➖➖➖➖➖➖➖
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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.