In my view, gold is forming a corrective ABCDE triangle with an expected breakout to the upside🚀
At the moment, wave C is either still developing or it is almost completed, and wave D may soon begin. I marked these two scenarios with orange🟠and purple🟣 arrows respectively.
However, I also do not rule out the possibility that this structure may turn out to be a flat ABC correction rather than a triangle, as I currently expect.
In that case, price should first move according to the orange scenario.
After the correction completes, I expect price to follow the green path, taking gold above its recent all-time high🌱
And between us — I personally expect gold to eventually reach above 8000 😱
But for now, let’s patiently wait for this current structure to finish forming.
💬Share your thoughts in the comments:
Do you think wave C is already complete, or will gold dip lower according to the orange path?
I’m curious to hear your view.
At the moment, wave C is either still developing or it is almost completed, and wave D may soon begin. I marked these two scenarios with orange🟠and purple🟣 arrows respectively.
However, I also do not rule out the possibility that this structure may turn out to be a flat ABC correction rather than a triangle, as I currently expect.
In that case, price should first move according to the orange scenario.
After the correction completes, I expect price to follow the green path, taking gold above its recent all-time high🌱
And between us — I personally expect gold to eventually reach above 8000 😱
But for now, let’s patiently wait for this current structure to finish forming.
💬Share your thoughts in the comments:
Do you think wave C is already complete, or will gold dip lower according to the orange path?
I’m curious to hear your view.
6+ years in trading. I read the charts like stories and share the ones worth telling
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6+ years in trading. I read the charts like stories and share the ones worth telling
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.