GOLD (XAUUSD) | The best scenario is to fall๐
Hello traders, Gold in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
The gold trend is generally within a leading cycle, from which waves 1, 2, and 3 are completed, with waves 4 and 5 remaining.
Wave structure 4: It is similar to a triangle due to its shallow depth.
This triangle can be considered as expansion and contraction.
Preferably we counted as a contracted triangle.
From this triangle the waves a, b, c and d are formed and now we are inside the wave e.
The t-wave is made up of the t-wave a, and the b-wave probably formed its first wave in the form of a flat wave, and this descent is also related to wave a from wave b to wave b.
We probably give wave b from wave b to the gray channel and wave c from wave b is located on the upper side of the triangle, and then the descent for wave c from wave e will be equal to wave a, and finally the ascent for wave 5 will begin.
- This is just a possibility and may be completely wrong -
(If the 1830 area is broken, this countdown will be completely fielded)
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
The gold trend is generally within a leading cycle, from which waves 1, 2, and 3 are completed, with waves 4 and 5 remaining.
Wave structure 4: It is similar to a triangle due to its shallow depth.
This triangle can be considered as expansion and contraction.
Preferably we counted as a contracted triangle.
From this triangle the waves a, b, c and d are formed and now we are inside the wave e.
The t-wave is made up of the t-wave a, and the b-wave probably formed its first wave in the form of a flat wave, and this descent is also related to wave a from wave b to wave b.
We probably give wave b from wave b to the gray channel and wave c from wave b is located on the upper side of the triangle, and then the descent for wave c from wave e will be equal to wave a, and finally the ascent for wave 5 will begin.
- This is just a possibility and may be completely wrong -
(If the 1830 area is broken, this countdown will be completely fielded)
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