Gold Elliott Wave Analysis: In this scenario, the ascending channel is counted as a corrective channel, which is a zigzag wave.

Since wave a was an impulse, wave b was a triangle, wave c was an impulse, and the last fall was wave 1 & 2.

In this scenario, the gold price needs to exceed the price of 1,913.80 and then fall to 1,878 levels and after that to 1,853.