broken out of T.L and making possible lower high
cup and handle formation. price also broke out of the TL and now retesting it. DOW is looking bearish so alot of evidence for gold going up
Price will reach 1.1070 before bullrun to complete wave 4-5 so a quick scalp on 40 pips, after that price will go on a abc pattern to the previous high at 61%( might go higher to create a doubble top to then head lower because the highest price went is at the 61% fib level so the bear flag is soon completed
At fib level, bearflag and price has overall been in a downtrend
We got that bearish engulfing in 4 HOURS, Also price reached fib level 61% and resistans
We have been in a bear flag for the past weeks, price is moving in a chanel and created a eliott wave last week. We reached the upper trendline and saw rejection. 4hour T.F confirmation too. Price will go down as a bearish eliott wave or ABC pattern. Might also break lower channel and go lower to make new lows on the downtrend. price also hit the 61% fib retracement
Gold created that doubble bottom. USDJPY is overbought and DXY also createds a doubble top indicating that USD is weakeening. Price is gonna follow the channel until that previous suport
a shoulder, head, shoulder formation and also at a fib-level. Also there is a resistance level where it currently is, waiting for confirmation to go short. RSI showing oversold and 1-hour T.F showed a bearish dojji
We got that rejection at suport and we might bee heading to a tripple top. move stoploss to break even after this runs a bit because it might be a double top and just a small corrections before breakout
might be a good trade to take later on this week