Daily candle shows important rejection from the top
Hi Folks:
After FED announcement I was expecting gold to go down, specially for the three rate hikes but so far still respecting the new ascending channel.
We could be developping some short of HS pattern, currently the right shoulder.
We traded slightly off the previous acending channel (see green parallel channel) and we break the inner descending channel as well.
I am going to follow the ascending green channel and based on the latest daily candle it seems that shorts may drive prices back to 176x area.
STAY SAFE. Cheers.
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After FED announcement I was expecting gold to go down, specially for the three rate hikes but so far still respecting the new ascending channel.
We could be developping some short of HS pattern, currently the right shoulder.
We traded slightly off the previous acending channel (see green parallel channel) and we break the inner descending channel as well.
I am going to follow the ascending green channel and based on the latest daily candle it seems that shorts may drive prices back to 176x area.
STAY SAFE. Cheers.
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.