Do you still remember the movement of Gold; the ending diagonal that signaled the end of the impulse wave from $1920?
Price was expected to break out of the diagonal with a corrective pattern starting with a 5-wave drive or a 3-wave.
We seem to be having the 5-wave drive as price broke out of the diagonal ferociously . The forming 5-wave signaled that corrective pattern we are expecting could be a zigzag pattern or its extension/variety.
The first leg potential 5-wave is about completing its 4th sub-wave with a clear contracting triangle. A break above this triangle upside could move price to 1300 or higher to 1400.
Price was expected to break out of the diagonal with a corrective pattern starting with a 5-wave drive or a 3-wave.
We seem to be having the 5-wave drive as price broke out of the diagonal ferociously . The forming 5-wave signaled that corrective pattern we are expecting could be a zigzag pattern or its extension/variety.
The first leg potential 5-wave is about completing its 4th sub-wave with a clear contracting triangle. A break above this triangle upside could move price to 1300 or higher to 1400.
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