๐ GOLD - A descending range is forming. Resistance retest
Gold is in a correction phase (red downtrend channel). As long as we have a descending range after the main trend break, we will prioritize a bearish set-up
TA on a high timeframe:
1) Price has broken strong support areas, but still hasn't reached the key ones (1944, 1934)
2) A correction is forming - caused by more positive data in Friday's fundamental reports
TA on the low timeframe:
1) Resistance 1981 plays an important role, but at the same time price may be aiming for the upper boundary of the downward channel
2) The price is in a downtrend, it's worth targeting strong resistances. Any false breakout can be a strong signal
3) There is a consolidation below the 1981 level, which is a sell signal.
Key resistance: 1981, 1987
Key support: 1951
TA on a high timeframe:
1) Price has broken strong support areas, but still hasn't reached the key ones (1944, 1934)
2) A correction is forming - caused by more positive data in Friday's fundamental reports
TA on the low timeframe:
1) Resistance 1981 plays an important role, but at the same time price may be aiming for the upper boundary of the downward channel
2) The price is in a downtrend, it's worth targeting strong resistances. Any false breakout can be a strong signal
3) There is a consolidation below the 1981 level, which is a sell signal.
Key resistance: 1981, 1987
Key support: 1951
ืขืกืงื ืกืืืจื: ืืืขื ืืืฉื
โค๏ธ Telegram channel: t.me/AndeWave
โค๏ธ Telegram channel: t.me/AndeWave
ืคืจืกืืืื ืงืฉืืจืื
ืืชื ืืืชืืจ
ืืืืืข ืืืคืจืกืืืื ืืื ื ืืืืจืื ืืืืืช, ืืืื ื ืืืืืื, ืขืฆืืช ืคืื ื ืกืืืช, ืืฉืงืขืืช, ืืกืืจ ืื ืกืืืื ืืืจืื ืฉื ืขืฆืืช ืื ืืืืฆืืช ืฉืกืืคืงื ืื ืืืืฉืจืื ืขื ืืื TradingView. ืงืจื ืขืื ืืชื ืืื ืืืืืืืืช.