GOLD (XAUUSD) | The best daily gold analysis🥇
Hello traders, In the daily time frame, waves 1, 2 and 3 are completely formed.
And now we are inside wave 4, wave 4 is smaller in time than wave 2, but it should not be like this, or at least close or more.
We have two scenarios for gold, the zigzag pattern or the flat pattern, both of which are equally probable, because the previous moves were made in such a way that the conditions of both patterns exist.
Let's look at wave 4: The wave is completely over, this is a wave that can not be recognized as 5 waves or 3 waves.
Another thing we do is the trend has dropped from the price of 1922 and this price is on the Fibonacci 0.618 (from the beginning of wave a to its end), so this Fibonacci is the best area to return to now if the price is from this point or finally tangential to the red trend line. If it is turned back and breaks its previous resistance, ie 1922, the correction of the felt will be felt, but if it breaks the trend line downwards, the correction will be of the zigzag type and will reach the specified goals.
The best place to go is to look at price behavior and identify the desire of market players as they approach the trend line.
Friends, if you are interested in putting a signal at the bottom of each analysis, write in the comments✍🏻
❤️Please, support this idea with a like and comment!❤️
And now we are inside wave 4, wave 4 is smaller in time than wave 2, but it should not be like this, or at least close or more.
We have two scenarios for gold, the zigzag pattern or the flat pattern, both of which are equally probable, because the previous moves were made in such a way that the conditions of both patterns exist.
Let's look at wave 4: The wave is completely over, this is a wave that can not be recognized as 5 waves or 3 waves.
Another thing we do is the trend has dropped from the price of 1922 and this price is on the Fibonacci 0.618 (from the beginning of wave a to its end), so this Fibonacci is the best area to return to now if the price is from this point or finally tangential to the red trend line. If it is turned back and breaks its previous resistance, ie 1922, the correction of the felt will be felt, but if it breaks the trend line downwards, the correction will be of the zigzag type and will reach the specified goals.
The best place to go is to look at price behavior and identify the desire of market players as they approach the trend line.
Friends, if you are interested in putting a signal at the bottom of each analysis, write in the comments✍🏻
❤️Please, support this idea with a like and comment!❤️