Reaching End-Of-Wave 5 price target
It seems that XAUUSD 0.41% has reached wave 5 price target area. As wave 3 is extended, wave 5 should be near equal to wave 1. However, wave 5 does not seems to be complete because only 4 waves can be counted in wave 5 till now.
Daily momentum is bearish and 4h momentum is just crossed from the over-both zone. However, hourly momentum has just crossed from over-sold zone and this strengthen the idea that fifth wave of the wave 5 has just begun.
So, a good and careful entry point can be below the fourth sub-wave of wave 5 (below the black horizontal line), after the daily momentum bearish reversal, just after it reaches the over-bought zone.
Daily momentum is bearish and 4h momentum is just crossed from the over-both zone. However, hourly momentum has just crossed from over-sold zone and this strengthen the idea that fifth wave of the wave 5 has just begun.
So, a good and careful entry point can be below the fourth sub-wave of wave 5 (below the black horizontal line), after the daily momentum bearish reversal, just after it reaches the over-bought zone.
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