XAUUSD (GOLD) needs exhaustion
#XAUUSD (GOLD):
*(1D):
Gold has seen very hard drops recently, reaching the point of bias switch to bearish. However, after the descending triangle break we could see a retest. So nothing is excluded.
For these reasons, i'm looking for bearish opportunities only.
*(4H):
Looking closer, structure is confirming the bias, with a clear series of Lower Highs and Lower Lows. Again, bearish confirmation.
*(1H):
Last consolidation above 1800 monthly support (now resistance) led to a massive drop on the breakout. After such a move it is physiological to expect a retrament. This what we are waiting for indeed.
A continuation pattern to the downside.
*(1D):
Gold has seen very hard drops recently, reaching the point of bias switch to bearish. However, after the descending triangle break we could see a retest. So nothing is excluded.
For these reasons, i'm looking for bearish opportunities only.
*(4H):
Looking closer, structure is confirming the bias, with a clear series of Lower Highs and Lower Lows. Again, bearish confirmation.
*(1H):
Last consolidation above 1800 monthly support (now resistance) led to a massive drop on the breakout. After such a move it is physiological to expect a retrament. This what we are waiting for indeed.
A continuation pattern to the downside.
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