Alikze »» XAUUSD| Wave B of corrective C

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🔍 Technical analysis: Wave B of corrective C

- According to the analysis presented before, in the 1H time frames, wave B has been able to have a three-wave upward correction.

- This correction has continued almost slightly above the 0.78 Fibo of the previous wave.

- It is currently broken below the 0.78 area with a selling pressure candle on the 1H time frame.

- According to the FVG gap in the 1H time frame, this return can be to fill the price gap.

- Therefore, I expect that considering that a BB occurred in the 15min time frame, the price faced selling pressure again after meeting the 0.78 fibo intersection and this correction took place in the form of a reversed wave C.

- Due to the fact that wave A from C was accelerated, wave 3 from C can move down as 3 waves or 5 waves.

💎 In addition, if the price can penetrate above Fibo 0.78, wave B can extend beyond wave A and then we have the structure of wave C correction, which will be updated in this case.
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XAUUSD

5 thg 8

Ghi chú

According to the latest analysis presented, after filling the FVG gap, wave 2 of C has completed an upward correction in the Fibo range of 0.78 of the previous wave. It is currently in wave 3 of C. This corrective wave, as mentioned before, can advance to the target in three waves or five waves.

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