Gold - update - a bullish option
Please refer to the earlier updates for the Gold, as there are options how to treat the triangle on daily.
This analysis relates to the bullish option.
In short, a triangle on D1 may be completed, and we have got the first wave up in the form of a leading diagonal, that is now being corrected.
The correction itself is so far in three waves.
Wait for the completion of the M15 move down (should be in 5 waves - impulse), and a push to the upside for the confirmation of the scenario
This analysis relates to the bullish option.
In short, a triangle on D1 may be completed, and we have got the first wave up in the form of a leading diagonal, that is now being corrected.
The correction itself is so far in three waves.
Wait for the completion of the M15 move down (should be in 5 waves - impulse), and a push to the upside for the confirmation of the scenario
No surprise, triangle at the end looks like a wave B in a larger structure.