I can picture a SYMMETRIC TRIANGLE PATTERN on gold. The trend is still bullish, so, I can see a break to the upside. But break out to upside or downside should produce at least 500pips.
I believe that gold is on downtrend, I am expecting it to do a pullback as correction and continue the downtrend to a psychological level @1870
My opinion is that the price should breakout for buy. looking at higher time frame, I expect the price to do a retracement back to 0.87277 before the sell continuation.
Using D1 chart, I believe that the sell is more clear and visible, formation of pin bar, double twicer and price rejection at the marked zone, should give more confirmation. But any body candle close above the highest high, suggests buy continuation.
my opinion on the trade using H1 time frame, is that the market should touch the marked OB and sell off from there to break the last low, retest the low and continue to sell.
my opinion on gold for short term sell @2040. a retest on the order block @2040
My opinion on gold, Range breakout, retest and continuation analysis.
Range break out. I'm expecting gold to break out of the range downward or upward.
Head and shoulders pattern formation forecast. using H1 time frame.
Head and shoulders pattern formation forecast. using H1 time frame
I expect retracement from the CMP down to create a low high and continue the bullish momentum.