As long as the red support line holds we could expect consolidation inside the triangle and then the price will go up after the election but if the red support line doesn't hold then the price could go under 1800, the target area could be the red triangle.
Trade active:
OK, My target riched and the price is in the red area, a little bit later than election day but it riched eventually.
When I published my analysis 2 months ago the price was above 1900, not many people liked my idea as they didn't even think the gold price will drop under 1800 but as you can see my prediction came true and the price is in the red zone. I am a buyer in the red area one step but be careful as it still may go down to the green line which is the bottom of the channel. I believe it can not break down the green line.
When I published my analysis 2 months ago the price was above 1900, not many people liked my idea as they didn't even think the gold price will drop under 1800 but as you can see my prediction came true and the price is in the red zone. I am a buyer in the red area one step but be careful as it still may go down to the green line which is the bottom of the channel. I believe it can not break down the green line.