GOLD (XAUUSD) | Small correction♻️
Hello traders, GOLD in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
As we said before, we consider wave c as a leading triangle.
Structurally, it consists of about five waves c and is very normal.
In equilibrium conditions, expect a re-hit on the upper side of the pink channel, and then fall again, moving at least to the previous price floor and up to the Fibo 0.618 to the Fibo 0.78.
Also, the scenario is such that the descent can occur from the same range, but it is shallower than the descent that hits the roof of the channel.
And in case of failure of the green line and the orange channel or the price of 1785, the ascent will continue until 1797.
🙏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!❤️
As we said before, we consider wave c as a leading triangle.
Structurally, it consists of about five waves c and is very normal.
In equilibrium conditions, expect a re-hit on the upper side of the pink channel, and then fall again, moving at least to the previous price floor and up to the Fibo 0.618 to the Fibo 0.78.
Also, the scenario is such that the descent can occur from the same range, but it is shallower than the descent that hits the roof of the channel.
And in case of failure of the green line and the orange channel or the price of 1785, the ascent will continue until 1797.
🙏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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