Gold Bearish idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking newly bearish here on Gold after we saw a head and shoulders reversal signals execute and play out.
Currently price action rests near 1930.00 support but price action is strongly suggesting we are heading lower.
The most likely scenario is that price action continues to fall into 1870.00 support.
Trade scenario 2: For us to consider Gold bullish again we would need to see price action get above 1930.00 and form a very convincing higher low that we can consider entering long on.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking newly bearish here on Gold after we saw a head and shoulders reversal signals execute and play out.
Currently price action rests near 1930.00 support but price action is strongly suggesting we are heading lower.
The most likely scenario is that price action continues to fall into 1870.00 support.
Trade scenario 2: For us to consider Gold bullish again we would need to see price action get above 1930.00 and form a very convincing higher low that we can consider entering long on.