XAUUSD: 1590 Could Initiate Last Triangle Leg

From orbex.com

The current XAUUSD structure hints at a corrective wave ④ of a triangular nature and consists of five intermediate sub-waves (A)-(B)-(C)-(D)-(E). Its first three parts are fully completed, whereas wave (D) is still under development. The intermediate degree wave could be completed near 1590. At that level, the impulse waves A and C will be equal. In standard zigzags, the actionary waves are often equal, which increases the probability of a reversal by the aforementioned area. The intermediate wave (D) can be also seen as completed as the minor wave C of the A-B-C zigzag could have ended as part of a symmetrical ... (full story)