GOLD: Consolidation in near term?
Updated
Hello everyone!
From a technical point of view, the major trend is bullish on large time frames, but in short term looking at the intraday chart, a consolidation of retracement around 1.844 area is possible. If we look on the hourly chart, the Price Action should develop a harmonic structure with the same target area. That said, the area around 1.883/1.891 is a strong resistance where the market will try to sell the yellow metal, we'll se....
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Cheers!
N.B.: Updates will follow below
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From a technical point of view, the major trend is bullish on large time frames, but in short term looking at the intraday chart, a consolidation of retracement around 1.844 area is possible. If we look on the hourly chart, the Price Action should develop a harmonic structure with the same target area. That said, the area around 1.883/1.891 is a strong resistance where the market will try to sell the yellow metal, we'll se....
...trade with care! 👍
Cheers!
N.B.: Updates will follow below
If you think that my analysis is useful, please...
"Like, Share and Comment" ...thank you! 💖
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consolidation time....Note
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Even if gold were to trigger the expected bearish consolidation, it certainly won't be in the form of a harmonic structure. Those who have taken a short position must absolutely manage it at least during today's session.Note
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It seems that the "market" is also following our channel... Technically speaking we could follow a classic "Bearish Flag" pattern, let's see what happens in the next few hours and then I'll post some updates, what do you think?Note
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Trade closed: target reached
Trade closed: target reached
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...updates(Click & Play on Chart below)
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