1HR TF: Price is respecting an ascending trendline = Possible breakout to the downside = Shorting Gold
15MIN TF: Price seems to be in a rising wedge formation = possible break to the downside
5MIN TF: Double top formation, with price retracting area.
With these confluences showing a possible bearish move I would hypothesize that price will break the area and reverse in a bearish direction.
Happy Trading!
15MIN TF: Price seems to be in a rising wedge formation = possible break to the downside
5MIN TF: Double top formation, with price retracting area.
With these confluences showing a possible bearish move I would hypothesize that price will break the area and reverse in a bearish direction.
Happy Trading!
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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.