After Breaking down the internal descending parallel channel since rejection at the Global 1D resistance, Gold rebound on smaller time frames and started an internal trend reversal. due to the uncertain fundamentals analysts expect short term growth of the precious metal until the next fed data release which might not support the short term trend reversal.
I am expecting a triple top at higher timeframe 4H, Then a price decline from global resistance area and back to the 1H internal descending channel lines.
I am expecting a triple top at higher timeframe 4H, Then a price decline from global resistance area and back to the 1H internal descending channel lines.
Note
Gold is reacting accordingly. Take partial profits along the way.Trade closed: target reached
Profit zone target reached, Trail take profit to 2055.
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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.