Gold possible movement for next week
Updated
After my previous post. Gold has successfully make a H&S pattern and then make a bearish movement.
The target for H&S bearish pattern has been reached and i thought with the current situation in the US it will continue its bearish to test the strong support channel in 1848.
But it's instead bounce back and even almost reach the upside part of parallel channel.
In my opinion it will reach the channel and then once again start it's bearish movement next week.
or
In case it continue to break the channel and reach the neckline of previous H&S pattern it can retest the 1913 resistance.
The target for H&S bearish pattern has been reached and i thought with the current situation in the US it will continue its bearish to test the strong support channel in 1848.
But it's instead bounce back and even almost reach the upside part of parallel channel.
In my opinion it will reach the channel and then once again start it's bearish movement next week.
or
In case it continue to break the channel and reach the neckline of previous H&S pattern it can retest the 1913 resistance.
Comment
We are on track and currently on the key point. Let see if it will go up or down.Thank you for everyone that likes my idea and please comment here if you don't mind.
Trade closed: target reached
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.