XAUUSD Gold Daily Outlook (Count 2) Primary 5 of cycle wave IIIGOLD / U.S. DOLLARFX_IDC:XAUUSDTheWaveCaveIn this updated XAUUSD Daily outlook i have zoomed in on the Primary wave 5 of cycle wave III. In the recent monthly outlook i said it was a little early to call wave 4 in cyan completed, it still is to be fair but so far price looks to be heading in the right direction. it's possible Gold has completed an intermediate degree yellow wave (1) and wave (2) is now underway. In the alternate outlook this would instead be A and B of an ABC corrective X wave, leading to another decline. i have a trade running which i have largely closed (75% closed) this has been detailed in my 'minds' posts. i will look to add when i think wave (2) is completed, running trade is targeting $6000. More comments on the chart. A few caveats: 1. Some of the projections i have put forward are based on estimates of uncompleted waves, once i feel i can anchor the next wave i will update the chart and recalculate the levels for the next wave, the chart is an evolving puzzle and there is only so much we can determine based on the information we have. 2. I put more emphasis on price levels as opposed to time, dependent on volatility the waves could play out quickly or prolonged, i do factor in an element of 'the right look' in terms of wave proportionality, but also want the patterns i am projecting to be easily visible on the outlook, so bear that in mind. Note: i create my outlooks with the browser tabs hidden (F11) so if they look squashed, that is why. If you appreciate my analysis then please show your appreciate with a like and follow.