Oro / DollaroLong
GOLD (XAUUSD) | The direction of price movement this week🏹
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 forward cycle and from this cycle waves 1, 2 and 3 are completed and waves 4 and 5 remain.
The structure of the fourth wave: Due to its shallow depth, it is similar to a triangle and this triangle can be considered as expansion and contraction (preferably counted as a contraction triangle).
From this triangle the waves a , b , c and d are formed and are now inside the wave e .
Consists of wave e microwave a and wave b will correct a maximum of 0.618% of wave a and then wave c is placed on the floor of the green channel and in this range to climb for Wave 5 will take place until target 2050.
If the bottom of the channel is broken, the trend should not move more than the lower side of the triangle, otherwise the analysis will be field.
In the disciplinary triangle scenario, we are inside the last wave d , which is formed as five waves.
If the upper side of the triangle is broken before hitting the floor of the channel again, the expectation of this scenario is higher.
🙏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!❤️
The gold trend is generally within a forward cycle and from this cycle waves 1, 2 and 3 are completed and waves 4 and 5 remain.
The structure of the fourth wave: Due to its shallow depth, it is similar to a triangle and this triangle can be considered as expansion and contraction (preferably counted as a contraction triangle).
From this triangle the waves a , b , c and d are formed and are now inside the wave e .
Consists of wave e microwave a and wave b will correct a maximum of 0.618% of wave a and then wave c is placed on the floor of the green channel and in this range to climb for Wave 5 will take place until target 2050.
If the bottom of the channel is broken, the trend should not move more than the lower side of the triangle, otherwise the analysis will be field.
In the disciplinary triangle scenario, we are inside the last wave d , which is formed as five waves.
If the upper side of the triangle is broken before hitting the floor of the channel again, the expectation of this scenario is higher.
🙏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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