Gold has broken and is currently retesting the trendline as seen on the 4hr time frame. Another way to look at it is that there is a break and retest of a head and shoulder pattern on the 4hr timeframe as well.
What do you think?
Goodluck traders
I am planning to go long on EURJPY.
There is a break and retest of the trendline as well as an inverse head and shoulder as seen on the 1hr timeframe.
What do you think traders?
Price is breaking out of the weekly descending triangle however, it is also at the resistance of a consolidation. The market could move in either direction. I will wait for a trigger to either buy or sell on 4HR/1HR timeframe.