GOLD (XAUUSD) | The best area to buy gold 🔥
Hello traders, Gold in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
In the orange channel, waves 1, 2 and 3 are complete and wave 4 is forming.
For wave 4, we considered two price targets (Fibo 0.38 and Fibo 0.50).
Fibo 0.38 is not completely broken yet, but if it breaks, the price will move first to its previous floor and then to the bottom of the pink channel (purple circle), and if this area is broken, the price will move to Fibo 0.50, and then wave 5 will start. .
To raise the price, I considered two possibilities, the blue probability of the price returning from the same point or maximum from the previous floor and the green probability of the price returning from the 1600 area, which is suitable for long-term analysis.
This analysis has no field points because this will be the waveform format and will not change.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In the orange channel, waves 1, 2 and 3 are complete and wave 4 is forming.
For wave 4, we considered two price targets (Fibo 0.38 and Fibo 0.50).
Fibo 0.38 is not completely broken yet, but if it breaks, the price will move first to its previous floor and then to the bottom of the pink channel (purple circle), and if this area is broken, the price will move to Fibo 0.50, and then wave 5 will start. .
To raise the price, I considered two possibilities, the blue probability of the price returning from the same point or maximum from the previous floor and the green probability of the price returning from the 1600 area, which is suitable for long-term analysis.
This analysis has no field points because this will be the waveform format and will not change.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️