Gold 4 hour level wave count

15 בנוב׳

Gold fell from 2790 to the red FVG area on the monthly chart. Relieved the imbalance at the monthly chart and below. It has returned to the FVG2546-2529 range on the second weekly chart. It just so happened that this wave of decline also reached Fibonacci 1.618-1.886, so there must be a rebound. According to the characteristics of the waves, five falls and three rises, three falls and five rises. At present, I have not determined whether it is a three-drop WXY wave or a five-drop yellow ABC wave. We need to continue to track its strength and shape in the later period to confirm it. At present, we are only bullish and not bearish. Similarly, can the current purple fourth wave correction end? It is also necessary to observe the rebound strength corresponding to the key positions. 1. If the rebound effectively breaks through 2704, then it is regarded as the yellow WXY wave correction and is over. Later, look towards 2900-3000. 2. If the rebound is not strong enough to effectively break through 2704, and there