Examining the four-hour time frame and analyzing the Elliott patterns show that the recent uptrend in gold has strongly confirmed that the downtrend that started on August 10 has been completed at the bottom of September 28 and is building a major corrective movement. The most important point is that the rotation of momentum in the weekly time frame is a confirmation of a multi-week upward trend, which makes any drop in the four-hour and one-hour time frames a good buy. In continuation of this growth, we expect to conquer the range of 1736-1733 dollars.
Trade closed: target reached