Gold A New Triangle ~ forex trading signals in urdu
On 3rd March, we discussed about the triangle that formed the 5th wave of the expected impulse wave that broke out of the ending diagonal. You can read the article again here .
The impulse wave, which was expected to terminate between 1300 and 1400, is expected to be the first leg of a correction.
As price broke out of the 4th wave triangle, we expect price to rally in a real motive wave to the 1300-1400.
Presently price is consolidating in a side way movement after a short rally.
The chart below shows the Elliott wave analysis of the breakout rally
The impulse wave, which was expected to terminate between 1300 and 1400, is expected to be the first leg of a correction.
As price broke out of the 4th wave triangle, we expect price to rally in a real motive wave to the 1300-1400.
Presently price is consolidating in a side way movement after a short rally.
The chart below shows the Elliott wave analysis of the breakout rally
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