sunnyk92

GOLD showing signs of deceleration

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is forming a reversal pattern and showing considerable signs of deceleration. If we break the 4H support and form a continuation pattern on the lower timeframes we can expect price to test the broken structural prior resistance which is yet to be tested. Price can continue moving to the daily resisrance/weekly resitance until we see further rejection increasing our trade premium.

However if we get a Daily break of the weekly lower high with strong momentum we should see price surge upwards.
Comment: Trade playing out as directed. Lets see if we get that development needed for a short.
Comment: Take profit reached , I hope some people was able to capitalise on this. :D

Comments

Excellent analysis. FOLLOWING
+1 Reply
sunnyk92 abel11
@abel11, Thank you , we still require a valid break and retest of the 4H support. But the trade is developing nicely.
Reply
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