For GOLD I believe we are currently in a new uptrend which should unfold in 3 major waves to the upside..This is because I believe we are in a diagonal in the grand major timeframe
Narrowing down to the smaller timeframe i expect this 3 wave move to unfold as a ZigZag. Hence we should see a 5-3-5 structure to the upside. We are currently in the first LEG A which should be unfolding in a 5 wave move up. Within that mentioned LEG A we seem to be completing its Minor Wave 1. I believe we are currently in a diagonal to the upside to complete Minor Wave 1 before we see any deep retracement for Minor Wave 2 Within the Leg A of the ZigZag.
Narrowing down to the smaller timeframe i expect this 3 wave move to unfold as a ZigZag. Hence we should see a 5-3-5 structure to the upside. We are currently in the first LEG A which should be unfolding in a 5 wave move up. Within that mentioned LEG A we seem to be completing its Minor Wave 1. I believe we are currently in a diagonal to the upside to complete Minor Wave 1 before we see any deep retracement for Minor Wave 2 Within the Leg A of the ZigZag.