Hello traders, Gold in 4-hour timeframe, this analysis is prepared in 4-hour timeframe, but has been published for a better view in 8-hour timeframe.
According to previous analyzes, gold has been able to break the pink trend line and our channel.
If gold can break the red channel ceiling, I expect the 1795 area or eventually Fibonacci 0.618 to move and then start the uptrend.
In case of reaction to the roof of the channel , there is a possibility of ascending to the area of 1850, and after the complete failure of this area, the long-term ascent of gold is confirmed.
If the blue trend line is completely broken, this analysis will be fielded and further gold decline will be confirmed.
🙏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 been able to break the pink trend line and our channel.
If gold can break the red channel ceiling, I expect the 1795 area or eventually Fibonacci 0.618 to move and then start the uptrend.
In case of reaction to the roof of the channel , there is a possibility of ascending to the area of 1850, and after the complete failure of this area, the long-term ascent of gold is confirmed.
If the blue trend line is completely broken, this analysis will be fielded and further gold decline will be confirmed.
🙏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!❤️