XAUUSD / Gold - Longterm Wave Analysis

Let's have a look at the most traded precious metal.
Gold formed an interesting pattern over the last year.

After the ABCDE triangle forming wave B, price broke out to the upside in 3 waves.

This ABC Move to the upside is the final C Wave of the Wave B correction.

At the Top, we have:


Weekly / 2-weeks / Monthly Sell signal
RSI Divergence
Fake Breakout above 61% Level of Wave A
Super high Volume confirming the Sell of and positioning of the professionals


What is next for gold is the continuation of the Wave A movement, known as Wave C.

We should see a reather impulsive move to the downside, 5 Waves to new lows.

This is a long term play, no Intraday setup.

For educational purpose only. This is no investment advice.