As far as I know, trend lines and price action levels work in MACD as well. Right now, in this timeframe, we have this trend line in MACD and the most likely scenario is that MACD will turn above this trend line and regain upward momentum. Unless the price starts a strong downward move in the near future, i.e. in the next few hours, MACD will break the trend...
Given the view that the gold price will fall to $2680 on the H1 time frame, I see these two scenarios in this M15 time frame. Let's see what happens...
The price is in an uptrend. Time frame 1 Hour. I expect these two scenarios for the next few days. That is, firs a correction, then a continuation of the upward movement in the direction of the uptrend. Unless the price undergoes a phase change. Let's see what happens...
The price is in an uptrend. Time frame 1 Hour. I expect these two scenarios for the next few days. That is, firs a correction, then a continuation of the upward movement in the direction of the uptrend. Unless the price undergoes a phase change. Let's see what happens...