Gold-sell
Gold Short Term ForecastD1 - Price is holding below an important resistance zone formed by the top of the bullish channel and the psychological level 1650.
H4 - 20 candles ride in Bollinger Bands, Extreme divergence
H1 - Bearish Trend Pattern, until the sell zone shown in the chart holds my view remains bearish here.
Gold Short Term AnalysisD1 - Bearish divergence.
H4 - Bearish hidden divergence.
H1 - Bearish convergence, until the invalidation level at 1577 holds my short term view remains bearish here.
If the price moves higher, breaks and holds above this invalidation level then this bearish view will be invalidated.
Gold Sell IdeaD1 - Price is moving inside a falling wedge pattern.
H4 - There are two possible scenarios:
Scenario #1 - Price pushes higher, and enters the critical resistance zone that we have marked and also reaching the 100% Fibonacci expansion at 1485.22. This is where I will be looking for aggressive and conservative entries with bearish evidences.
Scenario #2 - We need the price to push lower and break the up trend line. After that we can start looking for sell entries with bearish evidences.
Gold Sell IdeaD1 - Price is below the middle of the bearish channel, we have an important support zone formed by the bottom of the bearish channel and a strong supportive area. Price still has room lower towards this zone.
H4 - 20 candles ride in Bollinger Band, bullish divergence.
We may now look for possible corrections to happen and then we may look for sell opportunities with bearish evidences.