Naekano

A possible huge drop on gold

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price recently broke the 1h or 4h trendline and currently in the 5M TF as shown in the yellow circle it is forming a falling wedge indicating a small bullish movement to retest the trendline and resistance at 1963-1966 before dropping back down. Bear in mind that 1940 level has a 4h support and might hold the price strongly after the retest.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.