Gold - Respite before Breakthrough
Classic triangle consolidation pattern. In EW, this is considered a B wave, before finishing up with an impulsive C wave. This could be a retrace of the corrective move downwards (since the early 2000s).
Alternatively, if triangle is prematurely broken, this could be an impulsive 3rd wave upwards, where a truncated flat was completed.
Essentially, short on weekly, and look for monster long after.
Alternatively, if triangle is prematurely broken, this could be an impulsive 3rd wave upwards, where a truncated flat was completed.
Essentially, short on weekly, and look for monster long after.
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