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Alikze »» XAUUSD| Reverse pattern

🔍 Technical analysis: Reverse pattern

- It was mentioned in the 1H time frame according to the analysis presented before. that wave C can extend as a three-wave or five-wave to the green box range target.

- As you can see, wave C has corrected in three waves and accelerated to the green box.

- Currently, there has been a return wave after creating demand in the green box.

- Considering that it has had a three-wave correction up to the golden zone, it can be expected to have a movement cycle up to the 0.78 Fibo range.

💎In addition, in case of failure of Fibo 0.78, it can advance to the specified supply area.
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노트

+100 PIP

노트

Decompression of the corner pattern.

노트

According to the trend line, after the demand in the green box range, the target Fibo 0.78 has touched the 2455 range and by breaking it, it has advanced to the supply zone. At the same time, in the supply area, it has faced sales pressure with several attempts.