Gold bearish bias
Gold was making higher highs and higher lows in a 4hr uptrend.
However today 29 Oct 2021 price did several things to consider:
1. created double top
2. failed to break previous high
3. broke below previous low
4. broke below 4hr support zone
5. broke out of upward 4hr trendline
6. tested weekly bearish trendline and price rejected
In the next week I will be looking for selling opportunities below 1783.60 - 1786 area
However today 29 Oct 2021 price did several things to consider:
1. created double top
2. failed to break previous high
3. broke below previous low
4. broke below 4hr support zone
5. broke out of upward 4hr trendline
6. tested weekly bearish trendline and price rejected
In the next week I will be looking for selling opportunities below 1783.60 - 1786 area
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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.
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.