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GOLD - XAUUSD two possible scenarios
Gold Spot / U.S. Dollar
GOLD - XAUUSD two possible scenarios
By TheSignalyst
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May 12, 2020
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May 12, 2020
GOLD is currently approaching a strong rejection zone in blue 1800-1900 so we will be looking for objective sell setups on lower timeframes.
Keeping in mind that price can still dive in inside our zone before going downward.
On H4: price is currently trading inside our red symmetrical triangle.
scenario 1: waiting for price to break below our lower red trendline objectively to sell (trend-reversal)
scenario 2: waiting for price to break above our upper red trendline objectively to buy (trend-following)
breakout
Chart Patterns
Gold
Technical Indicators
reversal
safehaven
Symmetrical Triangle
Trend Analysis
trendfollowing
XAUUSD
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