GOLD (XAUUSD) | The best area to start the uptrend๐น
Hello traders, Gold in daily timeframe. This analysis has been prepared in daily timeframe but has been published for better view in 2 days timeframe.
As mentioned in the weekly analysis, gold is forming wave 3.
Inside wave 3, waves 1, 2, 3, and 4 are complete, and now wave 5 is forming.
Gold, based on the structure created by Wave 5, can be in the form of a triangle or a motivational wave.
If wave 5 is a motivational wave, it can also touch targets higher than Fibo 0.50, but if it is a triangle, target 0.38 is the safest target for it.
This analysis is fielded if the orange channel is broken.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ
As mentioned in the weekly analysis, gold is forming wave 3.
Inside wave 3, waves 1, 2, 3, and 4 are complete, and now wave 5 is forming.
Gold, based on the structure created by Wave 5, can be in the form of a triangle or a motivational wave.
If wave 5 is a motivational wave, it can also touch targets higher than Fibo 0.50, but if it is a triangle, target 0.38 is the safest target for it.
This analysis is fielded if the orange channel is broken.
๐If you have an idea that helps me provide a better analysis, I will be happy to write in the comments๐
โค๏ธPlease, support this idea with a like and comment!โค๏ธ