Hello traders, Gold in 1 hour time frame. In the previous analysis, I said that gold is a zigzag if it forms a wave of 5 waves, and if it is 3 waves, we should consider it as a flat.
The situation that is now in place can not be said that wave a is over or we are in wave b.
If the price can cross the Fibonacci level of 0.618 (1820), wave b is forming and is the best point for the bye.
If the price can not pass Fibonacci 0.618, in this case, this wave is 4 of wave a, and the price will start to rise after hitting the black channel floor of wave 5.
đIf you have an idea that helps me provide a better analysis, I will be happy to write in the commentsđ
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The situation that is now in place can not be said that wave a is over or we are in wave b.
If the price can cross the Fibonacci level of 0.618 (1820), wave b is forming and is the best point for the bye.
If the price can not pass Fibonacci 0.618, in this case, this wave is 4 of wave a, and the price will start to rise after hitting the black channel floor of wave 5.
đIf you have an idea that helps me provide a better analysis, I will be happy to write in the commentsđ
â€ïžPlease, support this idea with a like and comment!â€ïž