XAU/USD Fall soon??
Updated
Given the formation of the cup and handle pattern, we expected an upswing
In the monthly time frame:
- Although bullish candles are strong,
*** - The wedge pattern is formed, and the upper level of this wedge in the current trend is 2341
- Divergence is seen in MACD
- RSI; Above 70
- Stoch RSI close to 100
Weekly and daily time frame:
- Strong bullish candle
But
- RSI and Stoch RSI close to 100
In the 4H time frame:
- The candle of the hanged man
- MACD, RSI, Stoch RSI; Divergent at the highest level
Therefore, I expect the price to decline soon based on the pattern drawn on the chart
And even in the long term (monthly time frame), the price will drop to 2000
My target 1: 2340
After getting approval
My target 2: 2231
* Don't forget the stop loss
** Be profitable
Thank you for expressing your opinion with likes and comments
In the monthly time frame:
- Although bullish candles are strong,
*** - The wedge pattern is formed, and the upper level of this wedge in the current trend is 2341
- Divergence is seen in MACD
- RSI; Above 70
- Stoch RSI close to 100
Weekly and daily time frame:
- Strong bullish candle
But
- RSI and Stoch RSI close to 100
In the 4H time frame:
- The candle of the hanged man
- MACD, RSI, Stoch RSI; Divergent at the highest level
Therefore, I expect the price to decline soon based on the pattern drawn on the chart
And even in the long term (monthly time frame), the price will drop to 2000
My target 1: 2340
After getting approval
My target 2: 2231
* Don't forget the stop loss
** Be profitable
Thank you for expressing your opinion with likes and comments
Trade active
Note
In the weekly time frame, the breaking was fakeAnd I expect the trend drawn on the chart
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