POSSIBLE SCENARIOS FOR GOLD (THIS WEKK)
Hello Traders,
We are starting to see downtrend/bearish accumulation as the price wasn't able to break it's last high, and further on broke the three major swings low.
This indicates a possible downtrend continuation.
Most likely it will hit the 1819 level or the level below it, as this is how the price moved when it was on an uptrend.
Expect slow retracement movement (going up to the red key levels) and fast downwards movement (going down to 1750-1765).
Let me know what you think of this idea by sharing your opinion in the comments. Have a profitable trading!
We are starting to see downtrend/bearish accumulation as the price wasn't able to break it's last high, and further on broke the three major swings low.
This indicates a possible downtrend continuation.
Most likely it will hit the 1819 level or the level below it, as this is how the price moved when it was on an uptrend.
Expect slow retracement movement (going up to the red key levels) and fast downwards movement (going down to 1750-1765).
Let me know what you think of this idea by sharing your opinion in the comments. Have a profitable trading!
Comment:
These levels are indicated by using the 'Fibonacci Retracement Tool'