Gold came to see the shape of downtrend.
Gold has not reached YPP (P) 1269.009 and is trying to fall again.
Please look at the weekly,You can also see the red trend line being conscious.
weekly
https://www.tradingview.com/x/KubUgjiE/
But I decided not to use this line because of my discipline.
So I will not do anything now.
There is no reliable horizontal ...
Gold looks ripe for a breakout of the asscending triangle. Will be entering on the breakout.
Pattern Targets around 1322.5-1323 levels, but I would be closing off the trade at around 1315 levels which is a strong horizontal resistance. The pattern targets can be considered as 2nd profit taking levels by moving stops to cost.
Gold finally broke the trading range it had been into from many weeks on the downside as it slid past $1300 comfortably and posted a nearly $20 weekly loss. This kind of movement was getting over-due and a fatigue was kind of setting in when the price action was taken into account. Fundamentally the events did not favor the rising prices thus allowing it to breach ...
Gold took a very strong support at $1301 level and maintained to trade above 1317. crossing initial resistance of 1323 will show some bullish movement.
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