Gold shows temporary retracenment by Ichimoku
Gold Daily chart shows a temporary retracement by below Ichimoku confirmations.
- Kumo (Senko span A and B) flat
- Kijun sen flat
- Tenkan sen flat
Chiko span is below the candles so the momentum is still bearish.
Below are the next possible scenarios.
1. Price will be resisted by the trend line and continues to go down
2. Price will be resisted by Kijun sen and continues to go down
However, if market breaks the Kijun sen, Chiko span could touch the candles and the market will be in a range.
- Kumo (Senko span A and B) flat
- Kijun sen flat
- Tenkan sen flat
Chiko span is below the candles so the momentum is still bearish.
Below are the next possible scenarios.
1. Price will be resisted by the trend line and continues to go down
2. Price will be resisted by Kijun sen and continues to go down
However, if market breaks the Kijun sen, Chiko span could touch the candles and the market will be in a range.
Forex Kei
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Official Website: forex-kei.com
Global Trading School: forex-kei.com/?page_id=2855
KTS Academy: keistradingstrategy.com
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