XAUUSD: Is wave 4 complete?GoldOANDA:XAUUSDskxfwavlggThe view we had in past three weeks was a possibility of complex 4th wave and our short term bias was bearish. But price reacted and closed above 61.8 Fibonacci retracement level and therefore changed our bias to bullish(Technically 4th wave is complete). Another confluence was a clear 5 waves after the reaction on the 61.8 fib. Now two possibilities, either wave 2 is complete and we should expect price to continue up from current price level or a possibility of double 3 to push price down to atleast 61.8 Fib before continuation to the upside. To take advantage of this anticipated move a trader should either wait for price to drop to the golden zone or wait for price to breach the immediate high and retest.