We can see a double top with 2 nice pinbars at an expected level of resistance. Note that this level is the .618 retracement level of the last larger drop as well. The RSI looks as it may be coming out of overbought and we are near the 1.618 extension of the last move up.
Please do not use this as a trade signal. I am still learning much about trading and I do not recommend you take this trade -- these are just my ideas. I welcome any feedback or comments below!
Please do not use this as a trade signal. I am still learning much about trading and I do not recommend you take this trade -- these are just my ideas. I welcome any feedback or comments below!
Note
Note
Action point! If bounce from here may close shorts and look to re-enter. But this looks good!
(Note this update is using XCUUSD chart because it is in real-time)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.