Hello traders,
This analysis will be completely based on the daily timeframe and will be used as the base for my own training plan for the rest of Jan 2021.
As you can see, on the daily chart, gold is on its way forming an inverse H & S formation right above EMA 200. This could be a sign showing Gold's retracement since 2074 will soon come to an end.
I am patiently waiting on 4H and 1H timeframe where the price action may form a right shoulder. Especially at 1840 where is its Fibonacci level.
However, if price breaks below 1764, this plan will be invalidated.
If you like this free analysis, please give me a thumbs up and drop me a comment, happy trading !
This analysis will be completely based on the daily timeframe and will be used as the base for my own training plan for the rest of Jan 2021.
As you can see, on the daily chart, gold is on its way forming an inverse H & S formation right above EMA 200. This could be a sign showing Gold's retracement since 2074 will soon come to an end.
I am patiently waiting on 4H and 1H timeframe where the price action may form a right shoulder. Especially at 1840 where is its Fibonacci level.
However, if price breaks below 1764, this plan will be invalidated.
If you like this free analysis, please give me a thumbs up and drop me a comment, happy trading !
