GOLD/DOLLAR - Daily correction on hourly basis.
Updated
Accordingly to the wave count the fifth wave of the daily uptrend (five waves up) made its peak and price action suggest the begining of the correction on hourly. This whole dynamic is the second wave on weekly basis (see RELATED IDEAS) and it is expected a Zigzag movement on daily chart.
Note
Price retraced 61,8%.I'm expecting a flat ABC because of the sharp zigzag.
Related publications
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.