GOLD (XAUUSD) | The best target for correction🎯
Hello traders, Gold in 4-hour timeframe, this analysis was prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
In our analysis of the eight-hour time, the scenario was such that the waves were always moving upwards, and at the same time we said that neither our downtrend nor our uptrend scenario were confirmed.
From above we have a resistor for the harmonic pattern and a side for the triangle and from below the bottom of the orange channel, the failure of each of which will determine the continuation of the movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag, the main a and b waves are over and now we are inside the c-wave. The confirmation of this wave was issued by breaking the b-wave channel and the process continued to the bottom of the next channel. Reach and correct for wave 2, which can be somewhat pullback to the previous channel.
This correction ends around 1808 and 1816, and if the bottom of the orange canal is broken, the correction will form at the bottom.
🙏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 our analysis of the eight-hour time, the scenario was such that the waves were always moving upwards, and at the same time we said that neither our downtrend nor our uptrend scenario were confirmed.
From above we have a resistor for the harmonic pattern and a side for the triangle and from below the bottom of the orange channel, the failure of each of which will determine the continuation of the movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag, the main a and b waves are over and now we are inside the c-wave. The confirmation of this wave was issued by breaking the b-wave channel and the process continued to the bottom of the next channel. Reach and correct for wave 2, which can be somewhat pullback to the previous channel.
This correction ends around 1808 and 1816, and if the bottom of the orange canal is broken, the correction will form at the bottom.
🙏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!❤️