Trader, analyst and instructor with a 6-year experience

Gold: weekly wave analysis


Weekly. There continues development of the global correctional wave [4], which takes the form of a simple Zigzag. Currently, the end of the zigzag is being formed. Let’s observe the layout of the last section in a more detailed way.

Daily. We saw the development of a new downward impulse V after the complete foundation of a convergent horizontal Triangle IV. Currently, there is a formation of complex correctional wave [4], after the end of which the market decline in the pulse [5] will continue. Let’s observe the layout of the wave [4].

H4.It seems that the wave [4] takes a form not of a double but of triple zigzag, as it was originally intended. This week the formation of a correctional wave ligament (x) will be completed and then the market will begin the construction of a new upward wave (z), an approximate structure of which is shown in the picture. Thus, the market will still be hold in the correction zone for a few weeks [4].
























































































































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