The price has been making HH and HL, having a great support and breaking a .78 FIB level. But recently it seems that the price dont have the strenght to make a daily close above 1.7620 price zone, and has made a rising wedge pattern. So right now the price could reach the top of the pattern and the resistance zone before mentioned. Then we can wait for the price...
This exotic has just broke a daily triangle, made a corrective structure and breaking it with a .78 FIB level and a support zone. So right now i would like to see a retest of the support broken and a candle closed below this mentioned zone to go short
We got here an interesting set up for the Gold. The pair has been making HH and HL for the past months, but now is making LH, forming an ascending triangle pattern, but it hasn't the strong enough to make a LL, supporting on the Monthly PRZ, the 50% FIB level, and reaching the top of the triangle. So right now we got two different scenarios: 1. We can go Long if...
THIS PAIR HAS BOUNCED ON THE MONTHLY PRZ AND THE TL. AND MADE A LOWER HIGH, BREAKING A .78% FIB LEVEL. IN A LOWER TIMEFRAME HAS JUST BROKE A TRIANGLE PATTERN. SO WE CAN GO BEAR WITH THIS CONFIRMATIONS TO THE MONTHLY PRZ AND THE TL BELOW.