Gold has the potential to go down to close the lower gap in the range of 3200, as it has broken its bullish channel with the formation of a Head and shoulder pattern which is also rejected at 0.618, I predict gold will go down first.
Sell Stop
3306
SL: 3326
TP: 3206
Sell Stop
3306
SL: 3326
TP: 3206
Note
Stochastic divergent, stochastic start to crosing down, but not confirm yet break channel
Trade closed manually
we close manually first -20 pips, I see there is still a chance that it will go up first to make wave 5, and from the small timeframe there is a rejection on the lower trendline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.