Series of HH and HL shows clearly since last week, but the horizontal resistance keeps lashing it to move up.
Wow, the HS retest the horizontal back, that's not the problem anyway. it's gives more opportunity to reenter at the beginning of a new falling trend. Let's shoot it downwards.
Price retraces back to the strongest trendline on the chart.
50 EMA pushing the price more lower, the market is coming bear.
Anything can happen where the price is presently, the price is now at the trendline resistance where the price could make a reversal although there's a Head and shoulder formed from the apex of the price chart, which means the HS could be more valid for EU to fall more aggressively.
This is the other setup, the price could move down to the horizontal to form something like a double or ''W'' in order words the price make a reversal and turned a bull market. The best thing is to wait for price to move to the horizontal and watch for reversal to predict where market moves next.
Here, the price is at the horizontal, anything could happen. It might just be a retest to the horizontal for further fall of Gold as shown by the arrow. Hence, could move other way in the next setup I'll drop soon. ☝️☝️
Buying momentum still upright in the market, but not that strong. Let's wait for price to move to trendline probably the horizontal and wait for an opportunity to sell.
Seems like a triple top at the rectangular horizontal resistance with multiple rejections which had weakened the price to go further upwards.
Seems like a triple top with a multiple rejection at the Rectangular horizontal resistance.
Let's wait and see how it plays. The first one I provided did not show well. This is a clear vision.
As you've clearly seen the set up for buy, it gonna go that if no fundamental scrap. The buying momentum in GOLD is strong and it's gonna pull it up to the rectangular horizontal for the pair to form a triple top before any short terms can make way on GOLD, let's keep an eye on it.
Let's wait for a complete retest at the support trendline as shown in the chart, if successful, the market is forever a bull market.
I'm anticipating for the price to shoot up more, for it to form something like a double top and then letting declining downwards for a massive sell. Let's wait for buy potential.