GOLD (XAUUSD) | The best place to start a new trend📍
Hello traders, Gold in 4 hour time frame. This analysis is prepared in 4-hour timeframe but is published for better view in 8-hour timeframe.
Gold is located between the two limits of resistance and dynamic support (red trend line).
If the upper red trend line is broken, we expect to climb to Fibo 0.618.
Also, in case of complete failure of the upper red trend line, the end of wave 1 of wave 3 can take place in the Fibo area of 0.618.
In case of complete failure of the purple resistance line, this analysis is fielded.
🙏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!❤️
Gold is located between the two limits of resistance and dynamic support (red trend line).
If the upper red trend line is broken, we expect to climb to Fibo 0.618.
Also, in case of complete failure of the upper red trend line, the end of wave 1 of wave 3 can take place in the Fibo area of 0.618.
In case of complete failure of the purple resistance line, this analysis is fielded.
🙏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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