user100000
Long

Projecting wave 5

FX:XAUUSD   Gold/U.S. Dollar
272 0 4
Impulse waves sometimes do not channel well if wave 3 is strong and wave 4 takes some time. By connecting wave 2 and 4 and drawing parallel line through wave 1 it's possible to project wave 5 in such cases as shown by the channel.

+ 3 vs 5 bullish divergence
+ expanding diagonal occur in wave one
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