Bullish scenario of the gold why?
1-the price didnot penetrate 1830 which represent the HH of the bullish trend
2- presence of weekly and monthly closure at 1824 give major support for bullish trend
3-break of the yellow line which represent the bearish trenline LQ
4-1830 is below the 50% Fibonnacci which withdraw from the HOD to the LOD (give some support to the bullish)
When this bullish scenario can say failed?
when the price break the 1830
thanks
1-the price didnot penetrate 1830 which represent the HH of the bullish trend
2- presence of weekly and monthly closure at 1824 give major support for bullish trend
3-break of the yellow line which represent the bearish trenline LQ
4-1830 is below the 50% Fibonnacci which withdraw from the HOD to the LOD (give some support to the bullish)
When this bullish scenario can say failed?
when the price break the 1830
thanks