Bearish clues:
- General downtrend since beginning of June (almost 1 month)
- 21 exponential moving average still below 50 exponential moving average
- Squeeze pattern on Bollinger Bands => explosion (generally in the direction of the trend
- Price reached the middle of the Andrews' Pitchfork
- Symmetrical triangle in a downtrend (continuation chartist pattern)
Objective:
If the Gold breaks down the symmetrical triangle, it could reach the level of 1,740 USD, which corresponds to the objective of the symmetrical triangle and a historical oblique bullish support. You can also wait for a pullback on the symmetrical triangle if it is confirmed.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- General downtrend since beginning of June (almost 1 month)
- 21 exponential moving average still below 50 exponential moving average
- Squeeze pattern on Bollinger Bands => explosion (generally in the direction of the trend
- Price reached the middle of the Andrews' Pitchfork
- Symmetrical triangle in a downtrend (continuation chartist pattern)
Objective:
If the Gold breaks down the symmetrical triangle, it could reach the level of 1,740 USD, which corresponds to the objective of the symmetrical triangle and a historical oblique bullish support. You can also wait for a pullback on the symmetrical triangle if it is confirmed.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Trade closed: stop reached
It went right down but finally went up ...
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.
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.