Big chance of more bearish price action near term.
Gold is following a ascending channel since early 2019. Channel lines sometimes bounce all over the chart, that's why I used a very strange modified Pitchfork, but in essential it's the same as channel.
Entry @ 1660
Stop @ 1681
Target @ 1625
4-hour Chart
Broke below support and rejected of confluence area.
Intraday Chart
Possible framework to trade from on a intraday basis. Schiff pitchfork drawn on 1-hour chart.
Entry @ 1660
Stop @ 1681
Target @ 1625
4-hour Chart
Broke below support and rejected of confluence area.
Intraday Chart
Possible framework to trade from on a intraday basis. Schiff pitchfork drawn on 1-hour chart.
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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.