Hello traders, Gold in 4-hour timeframe, In our analysis of the 8-hour time, the scenario was such that the waves were always moving upwards, and at the same time we said that neither our downtrend nor our uptrend scenario were confirmed.
From the top we have a resistor for the harmonic pattern and a side for the triangle and from the bottom we have an orange channel bottom, the breaking of each of which will determine the direction of movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag , the main a and b waves have ended and we are now inside the c-wave . The confirmation of this wave was issued when the b-wave channel was broken.
And the process continued to the bottom of the next channel, and we assume that by reaching this range of the first microwave, wave c is over and a correction is formed for wave 2, which can be somewhat pullback to the previous channel.
This correction has been formed and the upward movement that we intended has been formed.
This movement is composed of five waves, which indicates that the general pattern of correction was zigzag .
From this zigzag , wave a is completed and we are now inside wave b.
Caution should be exercised in obtaining a buy position if the downward warning limit is broken.
🙏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!❤️
From the top we have a resistor for the harmonic pattern and a side for the triangle and from the bottom we have an orange channel bottom, the breaking of each of which will determine the direction of movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag , the main a and b waves have ended and we are now inside the c-wave . The confirmation of this wave was issued when the b-wave channel was broken.
And the process continued to the bottom of the next channel, and we assume that by reaching this range of the first microwave, wave c is over and a correction is formed for wave 2, which can be somewhat pullback to the previous channel.
This correction has been formed and the upward movement that we intended has been formed.
This movement is composed of five waves, which indicates that the general pattern of correction was zigzag .
From this zigzag , wave a is completed and we are now inside wave b.
Caution should be exercised in obtaining a buy position if the downward warning limit is broken.
🙏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!❤️