Weekly: Ascending channel towards a resistance zone. Price could possibly form a double top pattern. Weekly candle closure wick taking out the previous top
Daily: Double top at the upper trendline with neckline break, so need to wait for an LTF correction
Happy Sunday Traders
Gold is currently in a Uptrend and the market is above the 50EMA. Gold failed to close @1750.00 and in the process a Double Top has formed on the Daily Chart. For this reason, I'll be looking to short and enter this trade during the Asia Market Session.
TP LEVELS= 1616.00
TP 2 = 1550.00
Recent Daily Support Level Zone= (1641.00-1645.50)