GOLD (XAUUSD) | The direction of price movement this weekðđ
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Hello traders, Gold in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. In this analysis, I examined wave 4, and this analysis is a trend-free movement, and I want to give you an overview of the gold price movement this week. Given the conditions that have arisen for gold , I think the uptrend has begun. In Wave 4 chart, I considered an disciplinary triangle that we are now inside wave d. I think wave d is a flat and wave c is forming, which has entered the ascending phase. At the moment, the lines that I have drawn are the moving steps for the 5 waves, the c wave, and then I will try to determine the best price targets. Update : In my opinion, wave 1 of wave c is almost complete and we have to wait for correction for wave 2. Our assumption is that wave 2 is formed in the form of a pullback to the purple channel and ends at the specified point. Until the opposite blue trend line is completely broken, I am still waiting for this correction, and if this line is completely broken, the hope for this correction will decrease and we will have to wait for the correction at higher prices. Update : In the previous analysis, I said that if the blue trend line is broken, the probability of correction for wave 2 will decrease, but this correction was done before this line. And now it has two possibilities for us: The first possibility (blue trend): correction at this point or intersection, or it can be said that after the pullback to the purple channel is completed and ascending waves are formed. Second possibility (red trend): Our wave b is not yet complete and part of wave b is completed by the re-breaking of the purple channel ceiling. ðIf you have an idea that helps me provide a better analysis, I will be happy to write in the commentsð âĪïļPlease, support this idea with a like and comment!âĪïļ