XAUUSD 1 Day chart triangle
This is what I see on XAUUSD 1D chart. If Gold follows the triangle (which was the gold trend respected for more than a year now), there will be a big probability to reverse the trend and make a bearish market for gold. Hope this will help some of you to take long term short trade decision.
PS: RSI and Stochastic indicators also show an overbought market, (which supports our idea)!
#DYOR
PS: RSI and Stochastic indicators also show an overbought market, (which supports our idea)!
#DYOR
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.