KirkBarton

XAU/USD: wave analysis

OANDA:XAUUSD   Gold Spot / U.S. Dollar
The pair may grow.

On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and a local correction is starting to develop as the wave 2 of (5). If the assumption is correct, after the end of the correction, the pair will grow to the levels of 1958.98–2067.60. In this scenario, critical stop loss level is 1780.79.
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.