Hi guys,
today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly).
By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now.
Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension.
The RSI is in overbought condition.
All these conditions together make me think it could be a nice shorting setup.
If you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly).
By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now.
Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension.
The RSI is in overbought condition.
All these conditions together make me think it could be a nice shorting setup.
If you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.