Isnt looking good for gold at all we are still trading in this longerm descending triangle pattern forming lower lows into an area of support with the range tightening, on the daily timeframe market has recently made a strong bearish impulse breaking below the previous low and is now making a correction. We are waiting for todays daily candle to close to possibly have this bearish I.C.I strategy to apply. If the todays daily candle doesnt close back above support we will be waiting tomorrow on the 4hr timeframe for our rules to be met and a valid entry to short and market to go and form a new lower low from a daily perspective.
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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.