GOLD is it an ending diagonal?
Gold looks like it's in an ending diagonal structure which is making the 5th leg down .
I Guess we will see very soon how this plays out .
It's all about how the structure. I was expecting this to develop in a channel (as shown on the pinned chart) but the 4th corrective up move did not go as high as I expected thus changing the structure to an ending diagonal from a wxyxz. The 5th wave down is in progress as was expected maybe one more sell after a correction then the up trend starts.
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I Guess we will see very soon how this plays out .
It's all about how the structure. I was expecting this to develop in a channel (as shown on the pinned chart) but the 4th corrective up move did not go as high as I expected thus changing the structure to an ending diagonal from a wxyxz. The 5th wave down is in progress as was expected maybe one more sell after a correction then the up trend starts.
Follow me if you are interested in getting instant notification when i post trade setup on lower time frame.
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Facebook: facebook.com/ProwaveTrader
Training : add to skype mangal457
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