XAUUSD - WAVE D STILL FORMING?

We’re in a clear Bullish Ascending Triangle on XAUUSD. There is a possibility that the wave D has not formed yet. I will be looking to see if we get a bounce from resistance.

As you know, wave E does not always get put in so I would prefer to go long from the bottom of E (1680-1684) if it plays out rather than to short from D.

Either way, I’m expecting a break out to the upside when XAUUSD finishes consolidating. There should be a quick retest of the breakout area allowing one to take a long position from there.

The Bullish Ascending Wedge on D1 provides further confluence to this idea.

*Disclaimer*

This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only.

Do not trade or speculate based solely on the information provided.

Trust you own analysis.
Beyond Edge

Trade closed: target reached:

Target reached. We're in a clear D wave. Looking to see if we get a breakout from here or if the pattern will fully correct with wave E before resuming the trend.

Will post an updated idea later.



*Disclaimer*

This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only.

Do not trade or speculate based solely on the information provided.

Trust you own analysis.
Beyond Edge