GOLD (XAUUSD) | Probability of the last climb🔥
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.
The structure of gold is such that it cannot be accurately counted.
If this wave is a correction wave, ie wave b , the last resistance that will be ahead will be Fibonacci 1.38 and to Fibonacci 1.618, and the confirmation of the decline for wave c will be the failure of the black channel floor.
Gold movements are in the form of patterns ab = cd both in terms of time and price
We will expect another climb to complete these moves.
If the bottom of the orange channel is broken, the descent is confirmed.
🙏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 structure of gold is such that it cannot be accurately counted.
If this wave is a correction wave, ie wave b , the last resistance that will be ahead will be Fibonacci 1.38 and to Fibonacci 1.618, and the confirmation of the decline for wave c will be the failure of the black channel floor.
Gold movements are in the form of patterns ab = cd both in terms of time and price
We will expect another climb to complete these moves.
If the bottom of the orange channel is broken, the descent is confirmed.
🙏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!❤️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.