Gold appears to be forming a contracting triangle pattern, and we could currently be in the midst of Wave C. In a triangle structure (A-B-C-D-E), Wave C typically unfolds as a corrective move and is often mistaken for a potential breakout phase.
However, triangles are continuation patterns, and premature entries can lead to whipsaws or false breakouts. If Gold is indeed still in Wave C, we can expect further choppy, sideways movement before the pattern completes with Waves D and E.
Patience is key — let the structure mature. A more reliable opportunity may emerge after the triangle resolves and the larger trend resumes.
However, triangles are continuation patterns, and premature entries can lead to whipsaws or false breakouts. If Gold is indeed still in Wave C, we can expect further choppy, sideways movement before the pattern completes with Waves D and E.
Patience is key — let the structure mature. A more reliable opportunity may emerge after the triangle resolves and the larger trend resumes.
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.
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.