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4H Analysis on Gold

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Hello traders. This 4H analysis on Gold shows us a trendline which has been respected multiple times. Based on technical analysis, if the trendline is respected once again, price is likely to retest the resistance level between 1778.55 & 1782.90. If this resistance level is respected, we may also see price falling to the support level between 1742 & 1753.18.
If the trendline is not respected, price may just simply fall to the support level between 1778.55 & 1782.90, and if the resistance level is not respected, price may retest the previous high on the 4H TF at 1800.
노트
Correction: Price may fall to the support level between 1742 & 1753.18 if the trendline is not respected, not 1778.55 & 1782.90.
The support level between 1742 & 1753.18 is also a good place to buy if an entry reason appears, such as a trend reversal candlestick pattern.
노트
Price did reject from our resistance level between 1778.55 & 1782.90 as projected but did not fall to the support between 1742 & 1753.18. Price has now found found support at our previously mentioned resistance level and expected to rise higher.
거래청산: 스탑 닿음

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