Gold returns to downtrend
Updated
https://www.tradingview.com/x/v5TNtIV6/
Gold has now fallen below the trend line on the hourly chart, so gold may have returned to the downward trend.
On the hourly chart, there was a five-wave downward trend starting from 1993, and it is currently going down in the third wave.
First of all, I don’t know if the bottom of the current three waves will be 1965, but I definitely can’t chase it.
Because after this three-wave decline is over, there will definitely be another four-wave counterattack.
Judging from the current trend line, gold's four-wave counterattack is likely to be here between 1975 and 1980.
Because this interval is also right here on the hourly chart trend line.
Therefore, you can choose to enter the market and go short when you want to short 1975-1980.
Once it falls from 1975-80 again, it may go directly to the low point of 1955-50.
If you want to get more trading ideas. You can follow the bottom area to join
Gold has now fallen below the trend line on the hourly chart, so gold may have returned to the downward trend.
On the hourly chart, there was a five-wave downward trend starting from 1993, and it is currently going down in the third wave.
First of all, I don’t know if the bottom of the current three waves will be 1965, but I definitely can’t chase it.
Because after this three-wave decline is over, there will definitely be another four-wave counterattack.
Judging from the current trend line, gold's four-wave counterattack is likely to be here between 1975 and 1980.
Because this interval is also right here on the hourly chart trend line.
Therefore, you can choose to enter the market and go short when you want to short 1975-1980.
Once it falls from 1975-80 again, it may go directly to the low point of 1955-50.
If you want to get more trading ideas. You can follow the bottom area to join
Trade active
We have already made some profits from our orders so far. If you want to get more accurate trading signals. You can join in by paying attention to the bottom areaTrade active
Today’s trading volatility is mostly done. Waiting for better volatility tomorrow. You can pay attention to the bottom area to get trading signals as soon as possible.
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.