#XAUUSD #Gold
Updated
According to the long-term analysis of gold, as you can see, the pullback of the descending channel of the cup handle was completed internally and the next micro-waves were analyzed in a separate post.
But this rising wave that started in 2015 can continue its last leg of its ascent in the first range of 1.618, the ratio of wave 1 to 5, up to the range of 2533.
Therefore, the 4th correction is completed and it is currently in the 5th rising wave, which can be a 5-wave structure, which should be in the 3rd wave of 5th wave. It has an important cluster in the range of $2547 to $2533. This movement step can also reach the $3000 range. keep going
In addition, the initial goals of 2125 and 2250 will break the 2250 ascending path in the monthly time frame.
But this rising wave that started in 2015 can continue its last leg of its ascent in the first range of 1.618, the ratio of wave 1 to 5, up to the range of 2533.
Therefore, the 4th correction is completed and it is currently in the 5th rising wave, which can be a 5-wave structure, which should be in the 3rd wave of 5th wave. It has an important cluster in the range of $2547 to $2533. This movement step can also reach the $3000 range. keep going
In addition, the initial goals of 2125 and 2250 will break the 2250 ascending path in the monthly time frame.
Note
According to the analysis presented in the monthly time frame, as indicated on the chart, it is currently in the 3rd wave of the 5th wave, which is in the microwaves of the 3rd wave, which should touch the specified targets, and then the last corrective lag. We will examine this wave, which will be wave 4, after the completion of this wave in the future.
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