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.
According to previous analyzes, gold has started its upward trend.
This uptrend is related to wave 3, in this wave 3 waves 1 and 2 are completed and now we are inside wave 3 which is approaching the target 1.618 which after reacting we expect Fibonacci 0.50 movement And then start its own upward trend.
If the price breaks the black channel ceiling completely and then breaks the specified area, you should be careful about the buying position.
Note: In the event of a complete breakout of Fibo 1.618, wave 3 is extended.
🙏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!❤️
According to previous analyzes, gold has started its upward trend.
This uptrend is related to wave 3, in this wave 3 waves 1 and 2 are completed and now we are inside wave 3 which is approaching the target 1.618 which after reacting we expect Fibonacci 0.50 movement And then start its own upward trend.
If the price breaks the black channel ceiling completely and then breaks the specified area, you should be careful about the buying position.
Note: In the event of a complete breakout of Fibo 1.618, wave 3 is extended.
🙏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!❤️