😨Fear comes. Gold is back in vogue.🥇●● Mine scenario
🕐 1M
FX_IDC:XAUUSD
Until recently, the main scenario was the count presented below on a dark background, but after weighing all the pros and cons, I chose the already formed triangle ((B)) of I . And in general, both counts suggest an ending diagonal of a degree lower, followed by a pullback, based on the depth of which we will build further plans.
🕐 1D
OANDA:XAUUSD
I expect the growth of the third wave within the diagonal ((C)) of I .
●● Alternative scenario
🕐 1M
FX_IDC:XAUUSD
As an alternative scenario, I propose to consider the probability of the formation of a wave ((B)) of I in the form of a triangle with a wider boundary.
🕐 1D
OANDA:XAUUSD
On the daily timeframe, the current count is identical to the main count and assumes a resumption of growth in the near future, except that the goals are slightly more modest.
"Gold is the time-honored store of value, and although the price of gold may flatten for a long period, it is always good insurance to own some until the world’s monetary system is intelligently restructured, a development that seems inevitable, whether it happens by design or through natural economic forces. That paper is no substitute for gold as a store of value is probably another of nature’s laws".
EWP2005
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
