Gold did fall from 3400 as predicted last week. In 2W TF, it also formed a bearish bar. The bearish structure is still valid and gold should be on its way to 3k.
On the other hand, in 1W TF, I have also identified the triangle structure. Normally this structure can be either way. It can be a continuation signal or trend reversal, which depends on which line is broken.
Therefore, it is crucial to see how next week's bar will be closed. If it closes under the support line, the bearish trend will be confirmed.
For next week's trading strategy, I am expecting the price to at least touch the support line, which is around 3295.
On the other hand, in 1W TF, I have also identified the triangle structure. Normally this structure can be either way. It can be a continuation signal or trend reversal, which depends on which line is broken.
Therefore, it is crucial to see how next week's bar will be closed. If it closes under the support line, the bearish trend will be confirmed.
For next week's trading strategy, I am expecting the price to at least touch the support line, which is around 3295.
I have started trader's account in Roboforex.
Feel free to copy and earn together.
copyfx.com/ratings/rating-all/show/385840
Feel free to copy and earn together.
copyfx.com/ratings/rating-all/show/385840
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I have started trader's account in Roboforex.
Feel free to copy and earn together.
copyfx.com/ratings/rating-all/show/385840
Feel free to copy and earn together.
copyfx.com/ratings/rating-all/show/385840
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.