WaveAlchemy
Long

XAUUSD 4 HOUR BULL (MINOR ALTERNATE 2)

FX:XAUUSD   Gold / U.S. Dollar
121 0 5
Hi all,

This wave count states that 1) minor 3 is complete and 2) minor 4 is unfolding as a contracting triangle.

This count suggests that if wave 5 is to equal wave 1 in length, price may exceed termination level 2, which is fine.

In my opinion seeing minor 4 end here is better because it is more conservative. Larger triangles are certainly more reliable than smaller ones such as the one identified in *XAUUSD Minor Alternate 1*
Comment: *count invalidated*
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