GOLD (XAUUSD) Bearish Scenario for New Week Explained

17 באוק׳ 2020

hey guys,

gold just reached a strong falling trend line.
for now we see a positive bearish reaction from that and this touch may initiate a strong bearish swing move.

I will pay attention to a support line of a bullish flag pattern.
in case of a daily candle close below its support, bearish continuation will be highly probable.

goal for sellers will be 1860 (current daily low)

in case of a bullish continuation above the falling trend line, setup will be invalid.