GOLD Giving Bearish P.A , Descending Triangle Spotted !

Sep 7

Here Is My 15 Mins GOLD Chart , And This Is My Opinion , After we buy this pair and get the full way to upside now We have a very clear reversal pattern after this massive movement to upside finally we have a very clear reversal pattern , Descending Triangle but the price still not closed below the support for this reversal pattern so it`s not confirmed yet but the price touched the small down trendline 3 times and respect it and moved to downside so i`m waiting the price at the fourth touch to can enter a sell trade and targeting the very strong support around 4385.00 / 4380.00 and if we have a closure below it in the next 4h candle that will give us a good confirmation that the pattern confirmed and we can add new entry to continue to downside , and if we have not a closure below the support then we can buy from this area and targeting the selling area again and do that many times until we have a closure below or above and then continue with the new direction , it`s all depend on price action .

Sep 7

Trade active

The Price Touched Our Selling Area And Moved +130 Pips

Sep 8

Trade closed: target reached

The Price Reached The Target +300 Pips And Waiting It At Buying Area

Sep 8

Note

The Price Touched Our Buying Area And Moved +160 Pips

Sep 8

Note

The Price Touched Our Buying Area And Moved +230 Pips