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*
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*
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*count invalidated*
