Hello friends, let's analyze the Gold CFD chart from a technical perspective. As we can see, the higher degree Cycle Wave III (Red) has completed, and we're currently in Cycle degree Wave IV (Red). Within Wave IV, we expect a Primary Degree ((A)), ((B)), and ((C)) in Black. Wave ((A)) has completed, Wave ((B)) is almost complete, and Wave ((C)) is expected to follow.
Within Wave ((B)) in Black, we have Intermediate Degree Waves (A), (B), and (C) in Blue. Waves (A) and (B) are complete, and Wave (C) is nearing completion. Once Wave (C) in Blue completes, Wave ((B)) in Black will end, and Wave ((C)) in Black should begin.
According to theory, Wave ((A)) came down and then wave ((B)) retraced upwards so now Wave ((C)) should move downwards, forming a zigzag correction. The equality level is around $2858. However, we don't know if it will reach this level or extend/truncate.
The invalidation level for this view is 3169.23. If the price breaks above this level, our analysis will be invalidated.
This analysis is for educational purposes only and not trading advice. There's a risk of being completely wrong. Please consult your financial advisor before making any trades.
I am not Sebi registered analyst. My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Within Wave ((B)) in Black, we have Intermediate Degree Waves (A), (B), and (C) in Blue. Waves (A) and (B) are complete, and Wave (C) is nearing completion. Once Wave (C) in Blue completes, Wave ((B)) in Black will end, and Wave ((C)) in Black should begin.
According to theory, Wave ((A)) came down and then wave ((B)) retraced upwards so now Wave ((C)) should move downwards, forming a zigzag correction. The equality level is around $2858. However, we don't know if it will reach this level or extend/truncate.
The invalidation level for this view is 3169.23. If the price breaks above this level, our analysis will be invalidated.
This analysis is for educational purposes only and not trading advice. There's a risk of being completely wrong. Please consult your financial advisor before making any trades.
I am not Sebi registered analyst. My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Note
We are near 0.618% Fib Retracement level
Trade active
Current Possibility of Wave Counts are like this.
Note
One more possibility in Gold 
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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.