Registered: Jul 2010
02-21-12 05:07 PM
for gold, you're saying we're in a triangle, with the E wave having started lower. However, the triangle connecting ABCDE you show is neither descending, ascending, or symmetrical. Am I missing something?
nim1984 - Thanks for commenting. The wave-E scenario was based on the assumption that wave-D must be in a 3-segment movement. Today's price action shows that the purple line scenario is more possible because our previous wave-D has become a 5-segment wave which means that it is not a wave-D any longer. Talking about a triangle, it does not need to be perfectly descending, ascending, nor symmetrical, as long as it is a triangle. Hope this help.