GOLD (XAUUSD) | The best area for correction🎯
Hello traders, GOLD in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
Given the structure of the dollar index for gold, we expected a decline, but this did not happen, and we said in the previous analysis and also stressed that if the Fibonacci retracement of 0.618 and the green channel floor (in the previous analysis), hope for a decline will be greatly reduced. it fell.
For this scenario, we consider the start of wave 3 from wave 1 of wave 3.
The structure is not clear and it is not possible to say which wave 1 is wave 3, but for now we prefer to consider it this way.
We think that the trend from this region or ((finally)) to the price of 1807 has a correction in the form of a fourth wave. This correction can continue until around 1780. And it can also not happen, and this is a possibility like all other possibilities.
We strongly emphasize that if the price breaks from 1807 to 1810, the climb may continue and we must reconsider to count the new waves.
In no way did he enter the position without capital management.
This is merely an analysis to better understand the direction of price movement and we will not be held responsible.
🙏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!❤️
Given the structure of the dollar index for gold, we expected a decline, but this did not happen, and we said in the previous analysis and also stressed that if the Fibonacci retracement of 0.618 and the green channel floor (in the previous analysis), hope for a decline will be greatly reduced. it fell.
For this scenario, we consider the start of wave 3 from wave 1 of wave 3.
The structure is not clear and it is not possible to say which wave 1 is wave 3, but for now we prefer to consider it this way.
We think that the trend from this region or ((finally)) to the price of 1807 has a correction in the form of a fourth wave. This correction can continue until around 1780. And it can also not happen, and this is a possibility like all other possibilities.
We strongly emphasize that if the price breaks from 1807 to 1810, the climb may continue and we must reconsider to count the new waves.
In no way did he enter the position without capital management.
This is merely an analysis to better understand the direction of price movement and we will not be held responsible.
🙏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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