hey guys , i was reviewing my count on gold lately since the failed triangle idea i posted earlier , i was expecting a bullish impulse C wave but it didnt look right. After some time i found out what's going on , we got a consolidation Wave B in triangle Formation on Intermediate Degree , with one swing left inside. I expect a bullish move to complete the last wave then a strong impulse downwards to complete the ABC corrective sequence. Price action diverges from the oscillator signaling something going on there , i believe this is it. Goodluck!
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Please note that the triangle subdivisions are not clear zigzags - they are complex structures which i suspect to form a triangle but the same count can be used for a wave B and the whole long term fall of C wave could have already started at 1360 . If the D exceeds the point B of triangle , the idea remains valid all the way to 800! Cheers
My view, Xauusd will go to 1100-11032, before going up to around 1650