Gold - Double Zigzag pattern
In the daily chart, Wave III has been completed in the range of $ 2075, and its corrective wave is in the form of a Double zigzag pattern, in which the downtrend can be extended up to the range of $ 1650.
(Daily Chart )
In the 240-minute chart, the diagonal pattern has formed, which by wave counting the details, this pattern is at the end of wave iii from point C, which is finished around $ 1676. Currently the price is in wave iv, in which the uptrend can be extended up to the range of $ 1750 (in the form of 3 waves)
If the price drags above the downtrend line and stabilized with 5 uptrend waves, the IV wave will probably end in the range of $ 1676.
By monitoring the details of gold charts in the daily and 240 minutes time frames, we can conclude a downtrend can be extended up to the range of $ 1650.
Xausdsignal
Gold correction Hello everybody and welcome to my analysis 👋🏻
Gold broke the resistance zone 1815-1820 and now is going to the sky.
On my previous analysis I sold it and.
Now I keep my short position because it needs a correction.
I think 🤔 Gold will go back to 1820 zone where we will have another opportunity to buy it.
Normally, this is only my opinion.
Make your own analysis before investing and always use SL and tp.