This idea is in continuation to my previous idea about XAUUSD. The uptrend channel has finally been broken after a lot of struggle.
Another developing pattern in progress is that inverted cup and handle in red indicating a possible bearish trend initiation if successful (1932 is the neckline we must close a daily candle below it).
Furthermore, that huge monthly rejection last month was something on its own to indicate a starting bearish wave.
As a first target both of these indicators point to the target range of 1800-1850 as a conservative estimate.
Take extra care of your capital, follow appropriate risk management and do not exploit leverage!
Best of luck, happy trading and happier profits :-)
Another developing pattern in progress is that inverted cup and handle in red indicating a possible bearish trend initiation if successful (1932 is the neckline we must close a daily candle below it).
Furthermore, that huge monthly rejection last month was something on its own to indicate a starting bearish wave.
As a first target both of these indicators point to the target range of 1800-1850 as a conservative estimate.
Take extra care of your capital, follow appropriate risk management and do not exploit leverage!
Best of luck, happy trading and happier profits :-)
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Local demand zone at 1940 broken, inverted cup and handle confirmed, best of luck bears, happy trading :-) take extra care of your capital, dont take an analysis for granted, ensure your due diligence :-)
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My gold trading plan for 7th July, 2023, you dont have to follow it but that is what I think atm. looking for short only cause we had a a signal on daily tf yesterday
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My explanation for the recent bullish momentum!
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Let us revisit weekly TF today! Best of Luck!
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Well, well, we have another update today! Multiple breakouts and retest affirm looking for short entries only unless 55 breaks! best of luck!
