It is assumed that a triple zigzag pattern is formed for gold in the long term. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
Perhaps the first two sub-waves Ⓦ-Ⓧ have ended, and the third sub-wave Ⓨ is under development.
The internal structure suggests that the wave Ⓨ forms an intermediate triple zigzag. We can see that sub-waves (W)-(X)-(Y)-(X) have ended.
Thus, in the near future we can expect a possible price rise and the development of the final intermediate wave (Z). Its end can be expected near 2003.60. At that level, it will be 61.8% of previous actionary wave (Y).
However, the primary actionary wave Ⓨ could have ended, it is a double zigzag (W)-(X)-(Y).
Thus, in the near future, the price could move down, forming a primary intervening wave Ⓧ. Perhaps it takes the form of an intermediate zigzag (A)-(B)-(C).
We will probably observe the end of the wave Ⓧ near 1747.67. At that level, it will be at 61.8% of wave Ⓨ.
Test your strategy on how the Gold will fare with Orbex
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.orbex.com/blog/en/2023/02/xauusd-incomplete-triple-zigzag-hints-at-further-growth
- 67
- a
- and
- assumed
- Chart
- could
- Development
- double
- down
- expect
- expected
- final
- First
- form
- formed
- forms
- further
- future
- Gold
- Growth
- hints
- How
- HTTPS
- in
- Intermediate
- internal
- intervening
- IT
- Level
- live
- Long
- max-width
- move
- Near
- observe
- Pattern
- perhaps
- plato
- Plato Data Intelligence
- PlatoData
- possible
- previous
- price
- price rise
- primary
- probably
- Rise
- Strategy
- structure
- Suggests
- takes
- The
- Third
- Triple
- under
- W
- Wave
- will
- X
- xauusd
- Your
- zephyrnet