GOLD Finally A Clear Bearish Price Action

Hello traders:

Last few weeks/month many have been asking about GOLD's possible direction and whether to buy and sell.

I have been telling everyone to remain patient and wait for the opportunity to arrive.

Here now we can see a clear picture of the possible bearish development on GOLD.

From the top, we can see a double tops after price failed to break above the all the highs.

Instead, a sharp bearish reversal impulse phase down, good signs that the bullish momentum is exhausted.

After, price begin to consolidate and correct, even forming a bigger H and S pattern as well.

Now it looks like right shoulder, bearish flag continuation is about to finish.

Be on the look out for further sell setups, if price can form lower time frames continuations to validate more downside move.

Thank you

評論: