GOLD - XAUUSD two possible scenarios
GOLD is currently approaching a strong rejection zone in blue 1800-1900 so we will be looking for objective sell setups on lower timeframes.
Keeping in mind that price can still dive in inside our zone before going downward.
On H4: price is currently trading inside our red symmetrical triangle.
scenario 1: waiting for price to break below our lower red trendline objectively to sell (trend-reversal)
scenario 2: waiting for price to break above our upper red trendline objectively to buy (trend-following)
Keeping in mind that price can still dive in inside our zone before going downward.
On H4: price is currently trading inside our red symmetrical triangle.
scenario 1: waiting for price to break below our lower red trendline objectively to sell (trend-reversal)
scenario 2: waiting for price to break above our upper red trendline objectively to buy (trend-following)
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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