XAUUSD Rerveses To A Bullish Trend After The Zig-Zag Correction

Gold has been in a correction phase recently which we would consider being a Zig-Zag, label A-B-C waves A and C are motive waves and wave B is a correction. The Zig-Zag correction was an indication that the downtrend is now over and we will soon see a rally as impulse waves. The market in itself is in a bullish trend but as we know market moves in a wave, and the wave analysis in itself is continual meaning that a finish of a certain pattern on a certain timeframe is a stat of a certain pattern on a higher timeframe/ degree.

For now, the price made a nice 1-2 pattern which can enable us to take trades with less risk, although our targets cannot be too high simply because we will see a pullback but can not go below the wave C level of the Zig-Zag pattern that have completed.