Stoic-Trader

Gold - Triangle should break soon

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price continued to rise in a corrective move inside the boundaries of the triangle.

Considering that we´re on the tip of the triangle, we should a major move very soon.

My primary scenario still considers one more wave down to finalize blue wave E.

The alternative scenario is that wave E was completed on the December low. Price has also broken above the gray area, which is bullish.

I am waiting for the conclusion of the triangle in order to take a trade.

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