Gold: Double Top as Bearish Signal
The gold market looks interesting for selling. The price is going to give us a double top. It is a reversal chart pattern. If the price can't move above the local swing high, it will be a good bearish signal. The breakout below the local uptrend line and 1700.00 support will give a sell signal.
The best entry points can be used in the hourly timeframes. Stop orders must be placed above the local swing highs. Profit targets should be based on SMA50 and SMA100 from the daily chart.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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