Converging Gold Trend
There appears to be a coverging trend. The turquois (light blue) trend is the outer trend and the dark blue/purplish is the inner trend. Gold has broken the inner trend trice already and now it is breaking it for the fourth time. The breaks are in the form of two peaks (troughs). The breaking peaks form the outer trend. So as of now another peak is expected before it gets back into its inner trend and follows the same pattern for the rest of the week.
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.