GOLD Descending Triangle
last price action was 2 main impulse down on the 1 hr timeframe.
Now it seems losing momentum and testing the demand zone multiple times. We may expect a breakout of the main trendline with a possible change of bias.
if it manages to break the demand zone instead solid downtrend is still valid.
for buys we may look for 1980 as target for downtrend a 1:2 risk/reward ratio is reasonable.
Good trade everyone!
Now it seems losing momentum and testing the demand zone multiple times. We may expect a breakout of the main trendline with a possible change of bias.
if it manages to break the demand zone instead solid downtrend is still valid.
for buys we may look for 1980 as target for downtrend a 1:2 risk/reward ratio is reasonable.
Good trade everyone!
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