DeGRAM | GOLD returned to the channel boundaries

Sep 4, 2024

GOLD is moving in an ascending channel between the trend lines.

The price pulled back from the resistance level, returned within the channel and broke down the dynamic support level.

The ascending structure of the chart is broken.

We expect the decline to continue.

-------------------

Share your opinion in the comments and support the idea with a like. Thanks for your support!

Sep 5, 2024

Note

GOLD is moving in a descending channel between the trend lines.

The price is near the upper boundary of the channel and has already reached the 78.6% retracement level.

We expect a pullback after a retest of the upper channel boundary.

Sep 5, 2024

Trade active

Active

Sep 6, 2024

Note

GOLD continues to move in a descending channel between the trend lines.

The price has already reached the upper boundary of the channel and is now between the correction levels.

The volatility of the movement has decreased.

We expect a pullback after consolidation in the channel.

Sep 6, 2024

Trade active

Active

Sep 9, 2024

Note

GOLD is moving in a descending channel between the trend lines.

The price successfully formed a bearish takeover after reaching the upper boundary of the channel.

The chart dropped under the dynamic resistance level.

We expect the decline to continue after the trend line retest.

Sep 9, 2024

Trade active

Active

Sep 10, 2024

Note

GOLD is moving in an ascending channel between the trend lines.

The price has repeatedly pulled back from the resistance level and this time there was a pullback again.

The chart has returned to the channel again.

We expect a decline after consolidation under the dynamic support.

Sep 10, 2024

Trade active

Active

Sep 11, 2024

Note

GOLD is moving in a descending channel between the trend lines.

The chart is sideways and has no pronounced trend.

The price has already repeatedly reacted with a decrease on reaching the resistance level.

We expect a pullback.