If my wave counting is correct, we are in the 4th wave of a strong uptrend which seems is getting to be completed because of 3 possibilities:

1- The expected area as shown on the chart with a green arrow can make a trend line with the same angle as our already proven daily trend line to make a channel

2- It’s almost 50% of Fibonacci retracement and usually gold does 50%

3- It’s the possible area for a smaller “5 wave structure” (purple) and it should not enter the area of its own First wave

Happy Trading & stay green! ✌️

πŸ”— See this on TradingViewΒ 

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