🪙GOLD A correction and then a continuation of the increases?

🪙GOLD A correction and then a continuation of the increases?

🪙Another technical look from my side. This time on gold.

🪙As in my last post on gold I predicted the increases perfectly:
www.tradingview.com/...ses-on-the-horizon/v

🪙This time it was time to play for a correction.

🪙I will break down all the tools I used in turn:

🪙1. a downward channel from peak to bottom.

🪙2. fibo measure from peak to bottom.

🪙3. fbo measurement from the largest correction of the upward impulse to the bottom.

🪙4. harmonic formation, former largest upward correction in a downward implosion. I will present it below so as not to superimpose too many elements on the chart:

🪙5. 2 resistance zones have been identified.
1. local, a cluster of the 0.382 level of the entire downward wave and the outer level of 1.618 measuring the largest correction in the upward impulse.
2. strong, defined by the 0.5 level of the entire downward wave and the previous strong price interest at the 1850 levels.

🪙6 A support zone defined by the 0.236 level of the entire downtrend and previous resistance that has been difficult to overcome on several occasions.

🪙My scenario assumes a correction and then a continuation of the increase to the resistance line.

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