๐GOLD has formed a very long correction wave since its ATH in 03 AUG 2020.
๐ Since then we are in descending triangle; in which we have already seen two fake breakouts (I will share my older TAs with y'all)
๐ We have two very important resistance zone:
1- 1908 and 0.618% Fibonacci level 2- 1860 and 0.5% Fibonacci level
๐ We also have one very major support line : 1680s
โ๐ผ I personally think we might again see 1740s support / resistance zone then afterwards we might go for another breakout of the descending triangle and we might again see another fake breakout
โ๐ผ There is also another scenario: price directly goes to 1680s and retest of the major resistance zone therefore the GOLD's bulls will be in trouble at least for mid-term
Here is my fake breakout TA on GOLD :
THIS IS NOT A FINANCIAL ADVICE PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION GOOD LUCK NP TRADER
ไบคๆๅผๅง
โ
The price managed to open above the infamous trend line