Gold is in the correction phase after trend breakdown. The price fell almost 3% from the high, it has 1727 support ahead and the 0.618 Fibonacci zone below.
(Daily timeframe. Technical analysis based on Gartley pattern and horizontal levels)
We identified the beginning of a Gartley pattern correction, the price dropped to the key support level on the daily timeframe - 1729, but at the same time the price is forming a consolidation above the zone. A false breakdown from below could result in a volume surge and a bullish reaction, which could affect price's recovery.
The situation near this zone is complicated, with a bounce we should expect the price to rise to resistance at 1765.
In case of breakdown and consolidation of the price under the level there is a chance of downfall to the bottom - 1716
Regards R.Linda!
(Daily timeframe. Technical analysis based on Gartley pattern and horizontal levels)
We identified the beginning of a Gartley pattern correction, the price dropped to the key support level on the daily timeframe - 1729, but at the same time the price is forming a consolidation above the zone. A false breakdown from below could result in a volume surge and a bullish reaction, which could affect price's recovery.
The situation near this zone is complicated, with a bounce we should expect the price to rise to resistance at 1765.
In case of breakdown and consolidation of the price under the level there is a chance of downfall to the bottom - 1716
Regards R.Linda!
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.