According to the expectations :
Gold completed a neat running triangle formation, as the fourth wave, in extreme point of its wave e at 1214 . And now, sequence of an impulsive fifth wave is being developed to expected ultimate lower level.
Fibonacci targets :
On the 240-minute chart, the expected target for extreme of the ongoing fifth wave, could be considered at 1157, where establishes an equality ratio between the waves (v) and (i), as a common relation.
Running Triangle :
“It is extremely common for wave B of a contracting triangle to exceed the start of wave A in what may be termed a running triangle.”
“Despite their sideways appearance, all triangles, including running triangles, effect a net retracement of the preceding wave at wave E’s end.”