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.
We have changed the gold wave count compared to the previous analysis and considered the ascent of the previous wave for wave 5 from wave 1, and this decline will be related to wave-2 . We will have wave 2.
This descent is on Fibo 0.5 relative to wave 1, and from this point we will expect the formation of wave b , ie the ascent to around 1780 and then the descent in the form of wave c on Fibo 0.618.
If Fibo 0.5 is completely broken, the decline will continue and should be revised to change the scenario and continue the trend.
🙏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!❤️
We have changed the gold wave count compared to the previous analysis and considered the ascent of the previous wave for wave 5 from wave 1, and this decline will be related to wave-2 . We will have wave 2.
This descent is on Fibo 0.5 relative to wave 1, and from this point we will expect the formation of wave b , ie the ascent to around 1780 and then the descent in the form of wave c on Fibo 0.618.
If Fibo 0.5 is completely broken, the decline will continue and should be revised to change the scenario and continue the trend.
🙏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!❤️