Gold, Double Top and False Break? Sell Now
If we observe together, a Double Top pattern is formed and a False Break is likely to occur, as happened in 1760 after the announcement of the Core (CPI) MoM. After all, all the news releases related to the US are good, there is nothing that will make the price of gold go up.
Note
Seeing the situation, maybe a double top pattern will form at 1796 and on the H1 timeframe it is very likely to be a false break of 1791, as well as on the H4 timeframe, I'm still sure that it will be a false break of 1785 right before the FOMC.Trade active
My 1791 short position is still active, currently adding another 1793 short position.
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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.