GOLD (GC1!) ELLIOTT WAVE ANALYSIS - TRIANGLE PATTERN
The context suggests that we are inside the 4-grey wave, as the 3-grey wave ended at the high of 2,801.2.
I see that the 4-gray wave is taking a long time, and is probably getting forming narrower as time goes on, as well as its subwaves have a lot of Three-waves, which directly suggests to me the idea of a Triangle (3-3-3-3-3 or ABCDE).
A closer look, the ((a))-navy to ((c))-navy, and the ((d))-navy wave is actually not over yet but continues to grow to go a little higher . That could indicate that the resistance levels at 2,761.3 play an important role, which is also the ideal stopping point of the ((d))-navy wave. After that, the ((e))-navy wave will move lower. furthermore.
I see that the 4-gray wave is taking a long time, and is probably getting forming narrower as time goes on, as well as its subwaves have a lot of Three-waves, which directly suggests to me the idea of a Triangle (3-3-3-3-3 or ABCDE).
A closer look, the ((a))-navy to ((c))-navy, and the ((d))-navy wave is actually not over yet but continues to grow to go a little higher . That could indicate that the resistance levels at 2,761.3 play an important role, which is also the ideal stopping point of the ((d))-navy wave. After that, the ((e))-navy wave will move lower. furthermore.
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