Gold will start to decline to support level inside wedge
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Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a few days ago entered to range and started to trades inside. In the range, Gold reached the support area, which coincided with the support level, and then made a correction movement to the bottom part of the range. After this, the price made a fake breakout and in a short time rose to the 2530 level and broke it, thereby exiting from the range pattern. Next, the price a little rose, after which made a small correction and then continued to move up inside the wedge. In the wedge, the price reached the current support level, which coincided with the support area and the resistance line of the wedge, after which turned around and started to fall. Gold declined to support line of the wedge and then continued to grow and soon reached the 2680 level, broke it, and made a retest. The price bounced and rose to the resistance line of the wedge, where continues to trades close to this day. So, in my opinion, Gold can little grow higher than the resistance line and then start to decline to the support level. Also, I think the price, after falling to the support level, will break it and continue to decline, therefore I set my TP at 2660 points. Please share this idea with your friends and click Boost 🚀
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.