Expecting gold to form a short correction like that of wave two. Expecting another impulse up after correction is broken. If confirmed, fifth wave can be expected to go to the 38.2 extension, with unlikely possibility of reaching the 61.8 XAUUSD. Never looked into gold, trying to apply my analysis to as wider range as possible. Any feedback appreciated. Thanks.
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Gold hit the -23.6, at this point risk will have been eliminated and profit protection would begin. The market then finished the 5th wave just below expectations and has began the ABC down. A has completed, B has started and C can expect to finish at the 78.60% area.