justatrader

Gold, Double Top on 8H Chart

FX:XAUUSD   Gold / U.S. Dollar
Targeting 1148 and 1103.
Hidden bearish divergence adds additional confirmation
Minor trend line is broken as well
Would be more confident when price tests 1174.05 for resistance

Note: Price is trading within a falling wedge (although not complete yet), so keep an eye out on that.
1148 will be a level a watch (refer to notes on chart)
I concur.... Different methodology, but same sentiment and similar target zone :
Time to Short GOLD again, Bearish pennant
;0)
+1 Reply
justatrader PRO aceofswords
What is your entry & stops like? Finding it a bit hard to get a good RR on this.
Reply
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