Double three elliott wave as wave ii

24 сент. 2023 г.

Since my last update on gold, gold has been trending in a meandering course. I took a hard look at its wave pattern and saw a double three Elliott wave pattern, a running flat (W), a zigzag (X) followed by a triangle(Y). We have a five wave impulse as wave i, a double three elliott wave (WXY) as wave ii. Once the breakdown of the b-d trendline in the triangle happens (not yet), we should be on its way down as wave iii, iv and v, with the final target of 1620, as wave A.