GOLD (XAUUSD) | The best area to start the uptrend๐ฅ
Hello traders, Gold in 4-hour timeframe, this analysis is prepared in 4-hour timeframe, but has been published for a better view in 8-hour timeframe.
According to previous analyzes, gold has been able to break the pink trend line and our channel.
If gold can break the red channel ceiling, I expect the 1795 area or eventually Fibonacci 0.618 to move and then start the uptrend.
In case of reaction to the roof of the channel , there is a possibility of ascending to the area of 1850, and after the complete failure of this area, the long-term ascent of gold is confirmed.
If the blue trend line is completely broken, this analysis will be fielded and further gold decline will be confirmed.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ
According to previous analyzes, gold has been able to break the pink trend line and our channel.
If gold can break the red channel ceiling, I expect the 1795 area or eventually Fibonacci 0.618 to move and then start the uptrend.
In case of reaction to the roof of the channel , there is a possibility of ascending to the area of 1850, and after the complete failure of this area, the long-term ascent of gold is confirmed.
If the blue trend line is completely broken, this analysis will be fielded and further gold decline will be confirmed.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ