Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Recently price entered to wedge, where it at once bounced from support line to resistance line.
But soon, Gold turned around and in a short time declined back to support line, breaking $2400 and $2325 levels.
Then price made upward impulse to $2447 points, thereby exiting from wedge and breaking $2400 and $2325 levels again.
After which Gold started to decline inside pennant, where it fell to support level breaking $2400 level.
Next, price broke $2325 level too, but a not long time ago it rose back and now XAU trades close to support level.
In my mind, price can fall to support line of pennant and then bounce up to $2370, exiting from this pattern.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Recently price entered to wedge, where it at once bounced from support line to resistance line.
But soon, Gold turned around and in a short time declined back to support line, breaking $2400 and $2325 levels.
Then price made upward impulse to $2447 points, thereby exiting from wedge and breaking $2400 and $2325 levels again.
After which Gold started to decline inside pennant, where it fell to support level breaking $2400 level.
Next, price broke $2325 level too, but a not long time ago it rose back and now XAU trades close to support level.
In my mind, price can fall to support line of pennant and then bounce up to $2370, exiting from this pattern.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Note
Price did not decline to support line, it rose almost to the resistance line of the pennant, so, I think that Gold can bounce from this line and start to decline
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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.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.