GOLD :Decline if candle H4 closes below resistance: (Signal)⤵️ 2037 TP1:2012.00 TP2:2007.00 TP3:1971.00 TP4:1952.00 ➖️➖️➖️➖️➖️➖️ - Bullis if the H4 candle closes above the resistance (Signal)⤵️ 2037 Tp1:2044.00 Tp2:2052.00 Tp3:2066.00 ➖️➖️➖️➖️➖️ 📉📊👨💻💸💸
For a shorter time in the H1 timeframe, the yellow metal revealed support from $1,900 and formed a complex inverted head and shoulders pattern ($1,902, $1,893, $1,900) that ended on Friday (broken the neck taken from the height of $1,913). While resistance is in play at $1,921, a break reveals the possibility of a run to the profit target of the inverted head and...
What's interesting from the daily chart, aside from the series of lower lows and lower highs since early May: a decline, is where we ended the week: the bottom of support resistance turned into potential at $1,919 . With the weekly price retesting the bottom of its support zone at $1,928-1,960, this week it is possible to create resistance at $1,919. A break from...
The daily price of XAU/USD (spot gold) has been in the process of forming a potential bearish pattern ($1985/$1932) since the big bottom. With price testing the lower bound of the flag formation and the FOMC competition rate decision, a lower one could be seen.
Our direction for the coming week is very clear, look for opportunities to go lower below the historic 1985 area, once we break this resistance level we will adjust and go long in the run time continuing! GOLD: Bearish if 1D candle closes below 1946.00/1955.00 resistance Tp1.1920.00 Tp2.1913.00 Tp3.1907.00 - Bullish if the 1D candle closes above the 1985/1972...