Hi Traders,
See above short opportunity as gold rests on 786 FIB as well as order block after having filled the liquidity gap from previous impulse.
We have the RSI maxed out as well as a touch of the rising wedge upper trend line.
We have also extended from the EMA and MA to show a possible reversal to come.
We have formed an AB=CD pattern ending at 1877 which again is an indication of possible reversal.
I have done a conservative swing trade but we could see much lower than the current take profit.
Areas marked are zones of partial take profits.
See above short opportunity as gold rests on 786 FIB as well as order block after having filled the liquidity gap from previous impulse.
We have the RSI maxed out as well as a touch of the rising wedge upper trend line.
We have also extended from the EMA and MA to show a possible reversal to come.
We have formed an AB=CD pattern ending at 1877 which again is an indication of possible reversal.
I have done a conservative swing trade but we could see much lower than the current take profit.
Areas marked are zones of partial take profits.