Currently 
XAUUSD is in support area, making an Ending Diagonal/Reversal Falling Wedge. XAUUSD forming a big triangle correction, we can expect the price to go up, breaking the Triangle Correction structure and entry on the pullback.
It would be nice to wait for the daily close to look at the confirmation wether it is bullish or bearish.
XAUUSD is in support area, making an Ending Diagonal/Reversal Falling Wedge. XAUUSD forming a big triangle correction, we can expect the price to go up, breaking the Triangle Correction structure and entry on the pullback.It would be nice to wait for the daily close to look at the confirmation wether it is bullish or bearish.
Note
Bullish Scenario 2
The second scenario would be a completed Triangle Correction and continued by an impulse wave to complete the 5th Wave.
Right now the price is forming the 2nd Wave and we can expect it to go to the 3rd Wave Area.
The price is currently is in the support area.
This whole structure/scenario would be invalid if the price goes below 1909.
Note
Bearish Scenario 1
The bearish scenario would be an ABC Correction.
The B correction (Flat Correction) has been completed and now its waiting to break the support and retesting the previous support to continue to the downside.
The price can go as low as 1803-1747, but if the price goes below 1747, the whole structure would be invalid.
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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.