GOLD 15 MIN TFGold / U.S. DollarFOREXCOM:XAUUSDFin_free_figt1. Higher-Timeframe Context (15-min) Price is moving inside a rising channel. The entire move is labeled as a 5-wave advance: (1)–(2)–(3)–(4)–(5). Unlike a normal impulse, the internal waves are overlapping and corrective, which is a major clue. 2. Why This Is an Ending Diagonal An ending diagonal has specific rules — all of which are visible here: ✅ Overlapping waves Wave (1) overlaps with wave (4) → not allowed in a normal impulse, but required in a diagonal. ✅ Each wave subdivides into ABC Notice purple A–B–C labels inside waves (1), (3), and (4). This confirms corrective internals, not impulsive 5-wave internals. ✅ Contracting / controlled channel Upper and lower trendlines converge slightly. Price respects both boundaries well. ✅ Appears in Wave (5) Ending diagonals only occur in wave 5 or C. Your labeling correctly places it at the end of the trend. 3. Wave-by-Wave Breakdown Wave (1) ABC structure. Pushes price to the upper channel. Wave (2) Sharp pullback to the lower channel. Ends with a clear C-wave. Wave (3) Strong but still corrective (ABC). Tops again at channel resistance. Wave (4) Fast sell-off to the lower channel. Overlaps wave (1) → confirms diagonal behavior. Wave (5) – Now Developing Current price action = A–B pullback inside wave (5). Projection shows final C-leg up toward the upper channel. 4. What the Arrow Is Signaling The arrow to (5) suggests: One last push higher toward ~4560–4580 (channel top). Likely to be choppy and corrective, not explosive. This final push often: Breaks the channel briefly (throw-over) Ends with momentum divergence Traps late buyers 5. What Typically Happens After an Ending Diagonal ⚠️ This is important: After wave (5) of an ending diagonal: Price often reverses sharply Retraces the entire diagonal very fast Drops back toward the origin of wave (5) or even wave (4) So while short-term bias is still up, the risk is rising. 6. Practical Takeaway Bullish continuation until wave (5) completes Do not chase longs near the upper channel Watch for: Rejection at channel top Bearish divergence Strong impulsive drop afterward Summary 📈 Rising channel 🔺 Ending diagonal in wave (5) 🔁 ABC internals everywhere ⚠️ Final upside likely → then sharp reversal