The likely next parallel in GOLD is shown below on the daily chart. The prior (KCT-style) channel was shown on the 4-hour timeframe.
Given the position of the EWO, one should probably give room for another Flat, or a possible triangle so the EWO has time to come back down towards the zero line.
Have an excellent start to the day.
TraderJoe
P.S. It's hard to be sure (especially in a likely 'A' wave, which is a corrective impulse), but I 'think' this is the next best solution to the 0 - ((ii)) trend line quandary.
ReplyDeletehttps://www.tradingview.com/x/pjO1bS6N/
And this larger wave might be some of the Minor B wave. And, yes, it simple 'can' go over the top again.
TJ