Gold, Bullish trend vs. bearish 3 drive!
After a long consolidation that appeared to be wyckoff distribution, UTAD event was unsuccessful, price didn't enter back into range after breakout, and bounced.
And here we are...
1790 seems to be getting weaker at each test, forming a descending triangle pattern. Along with this three drive pattern, It sounds more bearish.
I expect the rising channel to break, but I don't recommend shorting before a breakout.
And here we are...
1790 seems to be getting weaker at each test, forming a descending triangle pattern. Along with this three drive pattern, It sounds more bearish.
I expect the rising channel to break, but I don't recommend shorting before a breakout.
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