Rejection or reversal? GOld will fall
In my previous post i instructed to sell in 1936-1940 area. BEcause of of fresh supply zone and also divergen wich created. From here gold managed to as low as 1928! around 100pips from our entree. Although there was a bullish trend from 1900's i was confident enough to trade against the small bullish trend. In M30 and H1 it looks like gold is forming a head and shoulder pattern. This is a posible price action confirmation that gold will fall further.
If you look at the weekly chart you will notice gold is still bearish in the bigger picture. Lower highs and lower lows. Gold is currently floating around 1928 and 1930 wich is support level. Small correction can folow. But gold will fall again. Just be patience.
If you look at the weekly chart you will notice gold is still bearish in the bigger picture. Lower highs and lower lows. Gold is currently floating around 1928 and 1930 wich is support level. Small correction can folow. But gold will fall again. Just be patience.
Lets wait...