GOLD - FORECASTING PRICE ACTION | OBSERVING TREND LINE & 55MA

Jan 7, 2021

• Gold price action forecasting with the ascending trend line and 4H 55MA
  
• If trend line breaks, targeting 61.8% retracement and another attempt to break back up
  
• Else, forecasting a bounce from current levels/trend-line to break the strong resistance and push further after retesting via a S/R flip
  
• Price could swing either way but if I was to choose I would be biased short due to stochastic levels on HTF crossing over indicating overbought