■Outlook of XAUUSD on 1W chart.
I think we are on wave 4 shown as a Red-line.
If the assumptions of this scenario are correct, sub-waves of Wave 4 are probably "Regular Flat (a,b,c)".
Sub-wave b will be completed soon, and sub-wave c will start.
furthermore, Wave 4 is supported by a channel line, and the trend will continue.
I think we are on wave 4 shown as a Red-line.
If the assumptions of this scenario are correct, sub-waves of Wave 4 are probably "Regular Flat (a,b,c)".
Sub-wave b will be completed soon, and sub-wave c will start.
furthermore, Wave 4 is supported by a channel line, and the trend will continue.
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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.