Gold Spot - A Pattern is spotted
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The chart shows the price is traveling in a descending parallel channel formation. This time reaching towards the upper levels of the channel. If rejected from the levels of 2044-2052, may be in a downtrend for further sessions. Possible targets are indicated on the charts.
This illustration is my personal view only, for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
This illustration is my personal view only, for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
Nota
Hovering at the higher levels of the parallel channel. Giving sufficient time according to our setup. Let's see, what happens next.Nota
Had a spike up to 2057, now coming down to 2046. Looks like the setup may work. keep watching.
Penafian
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