GOLD (XAU/USD): MTF analysis | The best region to go short from
As thoroughly demonstrated in the publication made on Gold last week, deriving from the Weekly-timeframe graph (on the left-hand side of the screen), we are anticipating for the price to pull back into the crucial region of support lining up with the 50% Fibonacci retracement level as highlighted on the chart. Zooming into the H4 TF and adding up to the confluences, we might infer that the price has formed a descending triangle pattern and might touch the zone pictured on the graphic (the upper boundary of the triangle) once again before initiating a full-scale drop as planned.
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.