XAUUSD (Gold):
* In the correction of wave 4 as Symmetrical triangle
* Length between apex and base is 36 days. so, maximum time of breakout is at 75% i.e. at 27 days.
* Fibonacci Extension is 0.78% i.e. 1795 USD
* Wave 4 must not reach the high of wave 1 i.e. 1640 USD.
* Theory of alternate correction ( Wave 2 is simple so wave 4 must be complex).
* Wave 5 completes within 13 days of breakout (Half of the time taken to form the triangle).
Conclusion:
For 2 weeks Gold might move within the Symmetrical triangle and might have upside breakout (Dow Jones Theory).
Note:
This analysis is only for educational purpose. Please don't try for trading.
Thank You.
Swash Analysis (- Dr. Swash )
* In the correction of wave 4 as Symmetrical triangle
* Length between apex and base is 36 days. so, maximum time of breakout is at 75% i.e. at 27 days.
* Fibonacci Extension is 0.78% i.e. 1795 USD
* Wave 4 must not reach the high of wave 1 i.e. 1640 USD.
* Theory of alternate correction ( Wave 2 is simple so wave 4 must be complex).
* Wave 5 completes within 13 days of breakout (Half of the time taken to form the triangle).
Conclusion:
For 2 weeks Gold might move within the Symmetrical triangle and might have upside breakout (Dow Jones Theory).
Note:
This analysis is only for educational purpose. Please don't try for trading.
Thank You.
Swash Analysis (- Dr. Swash )