wsbza

Triangle B wave done?

wsbza Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
sub wave {d} & {e} of yellow B are bit small, but a sharp reversal would increase the odd that this could be a valid wave structure
Trade active:
initial short position active
Comment:
the short-term pattern actually looks like bullish flag
Comment:
but silver's pattern looks like another small decline to complete triangle sub wave (d)
Comment:
If gold & silver are forming different types of wave {b} (other than triangle), it is still possible to see another wave (c) of {b} exceed the wave (a) of {b} extreme.
If sub wave (b) of {b} is a flat, we should see an motive wave c to end it.
if sub wave (b) of {b} is a triangle, we should see more sideways.
Comment:
potential pattern illustration for silver
Comment:
break-even my initial position & wait for further corrections
Comment:
running flat B wave done?
Comment:
bearish assumption
Comment:
Comment:
4 hours chart looks like wave {iv} correction
but if gold do bottomed at the recent low of 1236.37, it may be further developed to another double zigzag W-X-Y for wave (D)
Comment:
possible micro count

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'


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