Gold has now fallen below the trend line on the hourly chart, so gold may have returned to the downward trend.
On the hourly chart, there was a five-wave downward trend starting from 1993, and it is currently going down in the third wave.
First of all, I don’t know if the bottom of the current three waves will be 1965, but I definitely can’t chase it.
Because after this three-wave decline is over, there will definitely be another four-wave counterattack.
Judging from the current trend line, gold's four-wave counterattack is likely to be here between 1975 and 1980.
Because this interval is also right here on the hourly chart trend line.
Therefore, you can choose to enter the market and go short when you want to short 1975-1980.
Once it falls from 1975-80 again, it may go directly to the low point of 1955-50.
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