GOLD (XAUUSD) | Small drop and start of big climb 🚀
Hello traders,Following the previous two analyzes, we now have two possibilities:
Purple: The purple wave count is from previous analyzes ( h1 and 30m )
This wave counter says that the 4 purple wave should have been a zigzag, but because of its side position it is flat.
According to this wave count, the trend will return from here or eventually by hitting the orange line.
Orange: It is related to the end of wave C, if the price of the bottom orange trend line can not break and then move up and break the upper trend line itself, we should almost consider the trend as bullish, why do I say almost, because until When the resistance of 1870 is not broken, that is, the blue resistance, we must consider the downward trend. (Also, we should not consider the diagonal triangle of the C-wave, which we will examine in the next analysis if it occurs).
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Purple: The purple wave count is from previous analyzes ( h1 and 30m )
This wave counter says that the 4 purple wave should have been a zigzag, but because of its side position it is flat.
According to this wave count, the trend will return from here or eventually by hitting the orange line.
Orange: It is related to the end of wave C, if the price of the bottom orange trend line can not break and then move up and break the upper trend line itself, we should almost consider the trend as bullish, why do I say almost, because until When the resistance of 1870 is not broken, that is, the blue resistance, we must consider the downward trend. (Also, we should not consider the diagonal triangle of the C-wave, which we will examine in the next analysis if it occurs).
❤️Please, support this idea with a like and comment!❤️