Trader, analyst and instructor with a 6-year experience

GOLD: weekly wave analysis

Roman Petuchov

Weekly. The long-term corrective wave [4] (simple descending zigzag) has been constructed. New bullish wave [5] is being born. 

Daily. First waves of the new bullish trend are now being formed. After the second wave [ii] we expect the pair to move towards the new high reached by the wave [i].

H4. Wave [ii] took a form of a double bearish zigzag that seems to be finished these days. Impulse growth [iii] will likely begin in the nearest future. 

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