GOLD (XAUUSD) |The best scenario for correction♻️
Hello traders, Gold in 4-hour timeframe, In our 8 hour analysis, the scenario was that the waves were always moving upwards, and at the same time we said that neither our downtrend nor our uptrend scenario were confirmed.
From the top we have a resistor for the harmonic pattern and a side for the triangle and from the bottom we have an orange channel, the breaking of each of which will determine the direction of movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag, the main a and b waves are over and now we are inside the c-wave. Confirmation of this wave was issued when the b-wave channel was broken and the process continued to the bottom of the next channel. Finished and modified for wave 2, which can be somewhat pullback to the previous channel.
This correction can be formed and the upward movement we intended can be formed.
This movement is composed of five waves, which indicates that the general pattern of correction was in the form of a zigzag, and from this zigzag, wave a will probably have a descent and then an ascent to complete it.
Then wave b is formed, the process of which goes to the end of wave 1 from wave a (maximum motion) and at the end of wave c is formed.
🙏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!❤️
From the top we have a resistor for the harmonic pattern and a side for the triangle and from the bottom we have an orange channel, the breaking of each of which will determine the direction of movement.
The counting done in this time has been done in a corrective way and in the form of zigzag waves.
From this zigzag, the main a and b waves are over and now we are inside the c-wave. Confirmation of this wave was issued when the b-wave channel was broken and the process continued to the bottom of the next channel. Finished and modified for wave 2, which can be somewhat pullback to the previous channel.
This correction can be formed and the upward movement we intended can be formed.
This movement is composed of five waves, which indicates that the general pattern of correction was in the form of a zigzag, and from this zigzag, wave a will probably have a descent and then an ascent to complete it.
Then wave b is formed, the process of which goes to the end of wave 1 from wave a (maximum motion) and at the end of wave c is formed.
🙏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!❤️