Can we see what happened on EURUSD on Gold chart?
What happened on EURUSD chart last week?
After breaking bull channel from bottom, TR formed.
Trading range was bear flag and finally got broken from down side by bears.
Price fall down to wedge line so I published an idea and said about possible reversal up.
But bears were so strong and broke below that wedge line after a breakout pullback of trading range.
We see same thing on XAUUSD chart.
Breakout of bull channel from downside -> Breakout followed by TR -> TR as Bear Flag -> Break below TR
It's now near the wedge line just like EURUSD, so it may have some reversal up.
If XAUUSD acts like EURUSD, that reversal up will be just pullback and then bear trend will resume.
After breaking bull channel from bottom, TR formed.
Trading range was bear flag and finally got broken from down side by bears.
Price fall down to wedge line so I published an idea and said about possible reversal up.
But bears were so strong and broke below that wedge line after a breakout pullback of trading range.
We see same thing on XAUUSD chart.
Breakout of bull channel from downside -> Breakout followed by TR -> TR as Bear Flag -> Break below TR
It's now near the wedge line just like EURUSD, so it may have some reversal up.
If XAUUSD acts like EURUSD, that reversal up will be just pullback and then bear trend will resume.
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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.