👉Gold has a ⌛long-term 🔻BEARISH🔻 trend
👉But before that, it can grow again✅🚀
🎯3 targets are shown in the figure...
🔎Further analysis:
⌛Weekly time frame:
In the long term, gold can continue to fall to the bottom of the channel with a gap from the top of the channel👇
⌛Daily time frame:
The long-term setup of gold fall is as follows:
Based on the break of the BULLISH trend line of the daily time frame, it can continue to fall with a THE SL above the HIGH before the break👇
⌛Four-hour time frame:
There is a possibility of forming a harmonic pattern:
Based on the Fibonacci ratios, a Gartley pattern can form here and we are growing to complete wave D👇
👉But before that, it can grow again✅🚀
🎯3 targets are shown in the figure...
🔎Further analysis:
⌛Weekly time frame:
In the long term, gold can continue to fall to the bottom of the channel with a gap from the top of the channel👇
⌛Daily time frame:
The long-term setup of gold fall is as follows:
Based on the break of the BULLISH trend line of the daily time frame, it can continue to fall with a THE SL above the HIGH before the break👇
⌛Four-hour time frame:
There is a possibility of forming a harmonic pattern:
Based on the Fibonacci ratios, a Gartley pattern can form here and we are growing to complete wave D👇
Note
💥In the continuation of this analysis:👉Regarding the formation of a double top on the 2030 resistance:
🔻There is a possibility of a temporary fall to the support range of 2001-2005
✅And from there, build a LOW with a wedge pattern and grow based on the main analysis
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.
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.