The fifth wave spreads!!! Or the end of motivation for buyers??
Hello friends and have a good day
Gold=US Dollar
From the lowest level, the price is $1614.925.
Pay attention to the closing price of $1622.845 in the daily chart.
The rule of the first wave: the second wave cannot pass through the beginning of the first wave (I have considered the closed price).
Remember, if you look closely at the history of the gold market, the first and second waves usually occur in this way.
Impulse pattern that has not yet been completed and has the possibility of existing expansion
Usually in either direction (bull or bear market), the trends usually do not correct very deeply until the impulse is completely exhausted and then corrects and completes a larger cycle and resumes the trend.
Motion waves are divided into five waves and they always move in the same direction as the trend of a larger degree.
Will the gold impulse pattern expand in the fifth wave or will it go into a corrective structure?!
Friends, if you see a weakness in my analysis, it is because of my lack of experience and I will definitely do better in the future.
I appreciate your support and good luck!
Gold=US Dollar
From the lowest level, the price is $1614.925.
Pay attention to the closing price of $1622.845 in the daily chart.
The rule of the first wave: the second wave cannot pass through the beginning of the first wave (I have considered the closed price).
Remember, if you look closely at the history of the gold market, the first and second waves usually occur in this way.
Impulse pattern that has not yet been completed and has the possibility of existing expansion
Usually in either direction (bull or bear market), the trends usually do not correct very deeply until the impulse is completely exhausted and then corrects and completes a larger cycle and resumes the trend.
Motion waves are divided into five waves and they always move in the same direction as the trend of a larger degree.
Will the gold impulse pattern expand in the fifth wave or will it go into a corrective structure?!
Friends, if you see a weakness in my analysis, it is because of my lack of experience and I will definitely do better in the future.
I appreciate your support and good luck!
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.