GOLD price increase unfortunately in hour analysis chart and mostly this reason lost balance increase more trader......!
But we here combined day + hour (here only you see day analysis) analysis and results come bearish side. So we put a long bearish analysis and drawing prediction upcoming bounce bullish level also (check the RSI chart).
Now let's see what what structure & information here have for analysis -
1) Harmonic bearish gartley & butterfly pattern also create and have pending pattern in hourly chart
2) RSI Rejected Area & bounce Zone.
3) Fibo + Stochastic Sell put waiting for long bearish.
4) 3 put tradeline rejected zone.
5) Hourly - 2, 4 hour - 1 , 8 & 12 hourly chart - 3 trade line wait for selling breakout & rejected (Here only day chart you seeing).
6) RSI - 6, 8 and 12 hour chart wait for drive in sell side.
7) Remember harmonic day chart bearish off possibility level - 1840/1725/1695(tradeline zone, future) & 1680 and Fibo here important for harmonic pattern successfully!.
8) wave pattern help for selly opportunity open 12 hour & 6 hour chat.
9) Our entry 1860 and Target following by harmonic pattern (1840/1720/1680).
* Above we something discuss in day chart analysis structure & pattern.
* Day chart combine - 4/8/12 hour chart topic.
* Remember, only day chart longer bearish analysis structure you see, if open Hourly's so understand what what Structure create with day chat 👍
Thank & Regards
By FX Analysis Team
