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 😉
➖➖➖➖➖➖➖➖➖➖➖➖➖
Comment:
The Daily view:
