Hello traders, Gold in daily time frame an a new update.
Gold is currently completed wave no 4 and start the final wave 5
In this wave, 4 it has hastened to 78% fibo 2 times the size of retracement wave 2.
This has drag the candle out from the trendlinE and manage to do correction as rejection.
According to the wave structure, the marking on the price is the fibo leval on EW.
NOTE: ACCORDING TO TACTICAL. GOLD FORM A BIG CUP AND HANDLE. (NOW IS ON HANDLE FORMATION)
If the wave breaks the WAVE 4 Resistance, it can be entered a FAIL EW analysis.
FROM MY OPINION THE WAVE NEED TO BE COMPLETE BEFORE START CLIMBING TO THE HEAVEN.
Please Ask Me if you want to Know more about the Chart. 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 my analysis.
Gold is currently completed wave no 4 and start the final wave 5
In this wave, 4 it has hastened to 78% fibo 2 times the size of retracement wave 2.
This has drag the candle out from the trendlinE and manage to do correction as rejection.
According to the wave structure, the marking on the price is the fibo leval on EW.
NOTE: ACCORDING TO TACTICAL. GOLD FORM A BIG CUP AND HANDLE. (NOW IS ON HANDLE FORMATION)
If the wave breaks the WAVE 4 Resistance, it can be entered a FAIL EW analysis.
FROM MY OPINION THE WAVE NEED TO BE COMPLETE BEFORE START CLIMBING TO THE HEAVEN.
Please Ask Me if you want to Know more about the Chart. 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 my analysis.