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.
Based on the count we had, the main waves 1, 2 and 3 were counted and now we are inside wave 4.
Wave 4 is probably formed in the shape of a triangle and this triangle can be counted in two states of contraction and expansion.
For now, we prefer to consider this triangle as a contraction, and from this triangle, waves a, b, c, and d are over, and wave e is forming.
From wave e, the tiny wave a and b are probably over, and now we are inside wave c, and we think the descent for wave c will happen as it did in August 2021, and then the main uptrend will begin.
If the upper side of the triangle is broken, also the 1830 area of this analysis is fielded and the main ascent is probably started.
🙏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!❤️
Based on the count we had, the main waves 1, 2 and 3 were counted and now we are inside wave 4.
Wave 4 is probably formed in the shape of a triangle and this triangle can be counted in two states of contraction and expansion.
For now, we prefer to consider this triangle as a contraction, and from this triangle, waves a, b, c, and d are over, and wave e is forming.
From wave e, the tiny wave a and b are probably over, and now we are inside wave c, and we think the descent for wave c will happen as it did in August 2021, and then the main uptrend will begin.
If the upper side of the triangle is broken, also the 1830 area of this analysis is fielded and the main ascent is probably started.
🙏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!❤️