XAUUSD- Will Complete a Descending Triangle?
Here's the 15m chart of the XAUUSD. It started to make a descending triangle. For that, it has to complete the five-wave cycle. Now it's making the 5th wave.The trend will fall up to the following targets 1863.510 - 1860.160 - 1857.625. The XAU/USD will fall up to 1852.300 - 1850.205 after the completion of the fifth wave
But if the trend started to move upwards, and crosses the upper trend line of the descending triangle, then it would be the failure of the descending triangle pattern. And if the trend starts to move upwards, it will lead to a short term uptrend. And followings are the levels 1870.200 - 1873.550 - 1877.170 - 1879.100, which the trend will break during a short-term uptrend.
But if the trend started to move upwards, and crosses the upper trend line of the descending triangle, then it would be the failure of the descending triangle pattern. And if the trend starts to move upwards, it will lead to a short term uptrend. And followings are the levels 1870.200 - 1873.550 - 1877.170 - 1879.100, which the trend will break during a short-term uptrend.
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