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on DAILY: GOLD is sitting around strong resistance 1900 in blue and brown trendline so we will be looking for sell setups on lower timeframes.
on H4: GOLD formed a wedge pattern in red so now we are waiting for our trigger to confirm the bearish movement.
Trigger: Waiting for a momentum candle close below the gray area to sell.
and until the sell is activated, this one would be overall bullish and can still dive inside the blue zone.
and since now GOLD is sitting around 1900 we will be looking for sell setups on lower timeframes like M30.
we will be looking for sell setups, unless price breaks aggressively above 1900, then the momentum will be shifted from bearish to bullish.
As price approaches our lower green support, we will be looking for buy setups.
Good luck!
on DAILY: GOLD is sitting around strong resistance 1900 in blue and brown trendline so we will be looking for sell setups on lower timeframes.
on H4: GOLD formed a wedge pattern in red so now we are waiting for our trigger to confirm the bearish movement.
Trigger: Waiting for a momentum candle close below the gray area to sell.
and until the sell is activated, this one would be overall bullish and can still dive inside the blue zone.
and since now GOLD is sitting around 1900 we will be looking for sell setups on lower timeframes like M30.
we will be looking for sell setups, unless price breaks aggressively above 1900, then the momentum will be shifted from bearish to bullish.
As price approaches our lower green support, we will be looking for buy setups.
Good luck!
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
