GOLD (XAUUSD) | The best scenario for the future of gold 🎯
Hello traders, Gold in weekly timeframe . This analysis is prepared in weekly timeframe but is displayed for a better view in 2 week timeframe.
According to our studies, according to Elliott, gold is within its fifth wave.
Of course, it is difficult to say that we have reached the end of a complete cycle, but this has probably happened.
The five-wave wave 1, 2, and 3 waves form themselves very normally and with excellent fibro ratios.
And now we are inside wave 4, wave four is involved in Fibo 0.38 and in this last year, as it should, it has not been able to break this Fibo towards the bottom.
Well, it can be deduced from this event that the fourth wave is one of the fifth wave of a triangle, and this wave tends to be longer in time to have a deep correction, and therefore the breaking of Fibo 0.38 by this form is very low, and maybe the last wave. That is, wave e succeeds in breaking this fibo, of course, if it breaks the bottom of the purple channel.
Wave 4 will have a lot of possibilities with the form it has created.
And the interesting thing is that it even has the form of a zigzag that inside its wave b and wave b can always be considered as a triangle.
The trend has reached the closest range to the bottom of the purple channel, and this is the best position to complete wave b by breaking the channel floor and confirm that wave c has passed through the channel floor and is zigzagging, and if gold enters the 1800 channel If the roof of the black canal is broken, this issue will be rejected.
🙏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!❤️
According to our studies, according to Elliott, gold is within its fifth wave.
Of course, it is difficult to say that we have reached the end of a complete cycle, but this has probably happened.
The five-wave wave 1, 2, and 3 waves form themselves very normally and with excellent fibro ratios.
And now we are inside wave 4, wave four is involved in Fibo 0.38 and in this last year, as it should, it has not been able to break this Fibo towards the bottom.
Well, it can be deduced from this event that the fourth wave is one of the fifth wave of a triangle, and this wave tends to be longer in time to have a deep correction, and therefore the breaking of Fibo 0.38 by this form is very low, and maybe the last wave. That is, wave e succeeds in breaking this fibo, of course, if it breaks the bottom of the purple channel.
Wave 4 will have a lot of possibilities with the form it has created.
And the interesting thing is that it even has the form of a zigzag that inside its wave b and wave b can always be considered as a triangle.
The trend has reached the closest range to the bottom of the purple channel, and this is the best position to complete wave b by breaking the channel floor and confirm that wave c has passed through the channel floor and is zigzagging, and if gold enters the 1800 channel If the roof of the black canal is broken, this issue will be rejected.
🙏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!❤️
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