Gold(xaiusd) to rally back to the down sideMulti time frame (1hr/4hr) a double top showing rejection to the up side and also price as break and close below the trend
This coming week I think gold is go to rally back to the low 1600 bar.
Rallydown
EURUSD week's summary and 3:1 winnersAfter this week's bearish rally of EU the prices seem to stop to build a pre-continuation accumulation structure. Mr. Wyckoff comes into play with a clear PS (preliminary support). Glad to see it around this area, as we're clearly 'touching' a lower channel line (1H structure). What can we expect? As usual some fakey fakey(!) should come into play, not only candles, but the whole structural movements, so be careful around the lower channel area.
A potential for a down-continuation for the 1,12-1,13 psycho levels (doubling with some money left out last time price was there) area in the upcoming weeks, however there's a possibility of the price coming back to 1,16 psycho-round-number-it's-a-bingo... to rob the bank once again and get the prices down. Definitely something to watch out for around those areas.
With no super important news coming out till the market close for the week, I'm watching the structural development of the price, and I'll keep you posted about my ideas for the thingy :) just my thoughts, nothing more.
Have a great weekend traders.
Sharp Downtrend is coming on BNBUSDTAs you can see, BNBUSDT is in a major range trend. Uptrends inside the range are losing momentum and their angles getting lower every time.
But downtrends getting stronger and their angles getting higher each time. Beside, RSI shows hidden divergence on the uptrend and volume rises near resistance shows selling pressure. This is the BNB situation. If the blue line breaks, there going to be a sharp downtrend.
I think price forms a double top before downtrend.
Another Step Down To Hell?I wouldn't be surprised if the prediction came out to be true. breaking of this, what could be classified as major support, to then turning into that major resistance.
With a retest, I am positively going on this roller coaster ride to the trenches with UJ.
With the US dollar under pressure at the moment, it could more likely happen
but who knows...its just my opinion :)
