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GOLD (XAUUSD) | The direction of price movement this week🏹
Hello traders, Gold in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
Gold is in the 4th major wave and in the first stage we considered this wave as an expansion triangle in which waves a , b and c are formed and wave d is forming, wave d Formed as a flat inside its wave c .
And wave c will go beyond wave a and wave b in our view.
In the next case, we consider wave 4 as a contraction triangle, and this contraction triangle completes its waves a and b and is now forming wave c .
In the second case, if the trend moves beyond 1825, this case will be fielded.
At the moment, we expected the blue line or red dot to break and an uptrend to occur, but it reacted strongly to this line.
And moved to the red line and reacted in that area.
We assume that there is a sideways movement in this part and if this line is broken, the movement will continue completely until the orange line and creates a red pattern, otherwise the blue movement will still be valid for us.
🙏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 is in the 4th major wave and in the first stage we considered this wave as an expansion triangle in which waves a , b and c are formed and wave d is forming, wave d Formed as a flat inside its wave c .
And wave c will go beyond wave a and wave b in our view.
In the next case, we consider wave 4 as a contraction triangle, and this contraction triangle completes its waves a and b and is now forming wave c .
In the second case, if the trend moves beyond 1825, this case will be fielded.
At the moment, we expected the blue line or red dot to break and an uptrend to occur, but it reacted strongly to this line.
And moved to the red line and reacted in that area.
We assume that there is a sideways movement in this part and if this line is broken, the movement will continue completely until the orange line and creates a red pattern, otherwise the blue movement will still be valid for us.
🙏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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