Hello traders, Gold In the 1-hour timeframe, gold has created different types of countdown due to its long-term side motion, but the best thing to do right now is a good channel for a simple Wave counting.
If we consider all this motion as a correction triangle for wave 4, this triangle is in wave b itself.
To confirm this triangle, in the first stage, it must react to the bottom of the channel, and in the second stage, it must move to Fibonacci 0.618 to form the 5th wave.
If the bottom of the triangle is completely broken, 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!❤️
If we consider all this motion as a correction triangle for wave 4, this triangle is in wave b itself.
To confirm this triangle, in the first stage, it must react to the bottom of the channel, and in the second stage, it must move to Fibonacci 0.618 to form the 5th wave.
If the bottom of the triangle is completely broken, 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!❤️