GOLD (XAUUSD) | The best price target to fall🔥
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.
Gold performed ascending according to the analysis.
According to the picture, we have a pattern of head and shoulders , and this pattern can be the basis for climbing more gold
But in general, according to the wave count, we expect a decline.
And we are not sure about that, I prefer to consider some limits.
In the first range, in case of failure of the bottom of the green canal, the descent can go to the Nakline and be a pullback for climbing.
If this range is broken, the descent will go at least to the specified range and wave c of this zigzag will be completed.
If the Fibonacci retracement of 0.618, ie the price of 1790, the hope of a decline will decrease and this climb will continue.
🙏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!❤️
Gold performed ascending according to the analysis.
According to the picture, we have a pattern of head and shoulders , and this pattern can be the basis for climbing more gold
But in general, according to the wave count, we expect a decline.
And we are not sure about that, I prefer to consider some limits.
In the first range, in case of failure of the bottom of the green canal, the descent can go to the Nakline and be a pullback for climbing.
If this range is broken, the descent will go at least to the specified range and wave c of this zigzag will be completed.
If the Fibonacci retracement of 0.618, ie the price of 1790, the hope of a decline will decrease and this climb will continue.
🙏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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