This idea is in continuation to my previous idea about XAUUSD. The uptrend channel has finally been broken after a lot of struggle.
Another developing pattern in progress is that inverted cup and handle in red indicating a possible bearish trend initiation if successful (1932 is the neckline we must close a daily candle below it).
Furthermore, that huge monthly rejection last month was something on its own to indicate a starting bearish wave.
As a first target both of these indicators point to the target range of 1800-1850 as a conservative estimate.
Take extra care of your capital, follow appropriate risk management and do not exploit leverage!
Best of luck, happy trading and happier profits :-)
Another developing pattern in progress is that inverted cup and handle in red indicating a possible bearish trend initiation if successful (1932 is the neckline we must close a daily candle below it).
Furthermore, that huge monthly rejection last month was something on its own to indicate a starting bearish wave.
As a first target both of these indicators point to the target range of 1800-1850 as a conservative estimate.
Take extra care of your capital, follow appropriate risk management and do not exploit leverage!
Best of luck, happy trading and happier profits :-)
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Local demand zone at 1940 broken, inverted cup and handle confirmed, best of luck bears, happy trading :-) take extra care of your capital, dont take an analysis for granted, ensure your due diligence :-)
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My gold trading plan for 7th July, 2023, you dont have to follow it but that is what I think atm. looking for short only cause we had a a signal on daily tf yesterday
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My explanation for the recent bullish momentum!
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Let us revisit weekly TF today! Best of Luck!
Note
Well, well, we have another update today! Multiple breakouts and retest affirm looking for short entries only unless 55 breaks! best of luck!
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Related publications
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.