Gold 4H Chart Idea
#1) I see a bearish hidden divergence on gold 4H chart and RSI
#2) because of #1 I believe Gold will retest $1,785 support level.
#3) Upon touching $1,785 we will have to see whether we will form a bullish reversal pattern on lower timeframes.
#4) If we cannot find enough reasons to believe the price will bounce at $1,785 then we can expect the price to go as low as $1,775, but I don’t know about after that, so I will need to see the price action at around $1,775-$1,780 to be able to understand whether we will go lower or bounce back up at those levels.
#2) because of #1 I believe Gold will retest $1,785 support level.
#3) Upon touching $1,785 we will have to see whether we will form a bullish reversal pattern on lower timeframes.
#4) If we cannot find enough reasons to believe the price will bounce at $1,785 then we can expect the price to go as low as $1,775, but I don’t know about after that, so I will need to see the price action at around $1,775-$1,780 to be able to understand whether we will go lower or bounce back up at those levels.
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