Wave B/2 on the DAILY TF almost completed with the wave B/2 being a complex correction which I assume only a WXY with the X wave being a complex correction itself.
On the lower TF which is H1, through my observation, the wave count already on wave C to complete the Y wave in TF H4 (EXPANDED FLAT).
An expanded flat correction suppose to have a wave B that ends beyond the starting of wave A and a wave C that ends beyond the ending point of wave A, so for a safe entry point I will be looking for a reversal CS in TF M15 at the area between fibo extension 100% and 127.20% with SL above the wick of the CS.
If the analysis is correct, we should see XAUUSD reach 1450 or even 1405 if the current wave is indeed a wave 2 instead of a wave B.
#JustANoobie
On the lower TF which is H1, through my observation, the wave count already on wave C to complete the Y wave in TF H4 (EXPANDED FLAT).
An expanded flat correction suppose to have a wave B that ends beyond the starting of wave A and a wave C that ends beyond the ending point of wave A, so for a safe entry point I will be looking for a reversal CS in TF M15 at the area between fibo extension 100% and 127.20% with SL above the wick of the CS.
If the analysis is correct, we should see XAUUSD reach 1450 or even 1405 if the current wave is indeed a wave 2 instead of a wave B.
#JustANoobie
Trade active:
Position opened. Saw a rejection CS on M15, but then price make another high. Possible ending diagonal.