■Outlook of XAUUSD on 1M chart. We are in sub-wave(ⅳ) of wave 3. Wave 3 shown by Blue-line will probably be a 3rd wave extension impulse.
Sub-wave of wave (ⅳ) is shown by Orange line. I think sub-waves of Wave(ⅳ) are probably "Regular Flat pattern ((a), (b), (c))". Sub-wave (iv) will be completed shortly. After Wave (ⅳ) is completed, Wave (ⅴ) will start. Wave (ⅴ) will probably be a Fifth wave extension impulse.
If the assumption of this scenario is correct, The wave(ⅳ) will grow to Wave (ⅲ)'s Fibonacci level of 38.2%. so, Target is 1,660 to 1620. After, Wave (ⅴ) will extension.