Gold is still indecisive, price is making clear lower highs(Downtrend) but price is still struggling to make a new low it stuck on a strong support area in this case we have two scenarios is either price breaks below to make lower low or the support might hold and break above to make a higher high.
Price breaks the uptrend,support and the recent HL to make LL which signals a reversal
Dominent Uptrend Strong support Immediate downtrend Triple Bottom
Price started to respect the key level.After a good price action on the H4 this will be a good buy setup
We hwo possible scenarios on Gold starting with long we can see that price has create a solid support area which price is struggling to break the overall trend is to the upside but we can also see the current structure of the market is to the downside
This is a counter trend or trend reversal setup so we need more confirmation to go short but this is just a personal view that I'm expecting a reversal because we can see that price is unable to make a new high(double top)but this is not enough because price does not also break below previous low just watching this to play out before deciding what to do
By looking at the chart there is a clear indication that we are in a current moving uptrend in this case we will be trading with the trend we will be looking for a retest before going long on this pair