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MohegaN
Nov 19, 2020 10:10 PM

Long ytd Long

Gold/U.S. DollarFXCM

Description

As you can see on the graph, ounce of response from the rising supports has prevented the formation of a descending triangle. In fact, he broke the triangle upwards from my point of view and a bull trap occurred. Therefore, we cannot talk about a complete descending triangle anymore. Formation started Quadrilateral formation after descending triangle. This shows that the competition between buyer and seller continues. Buying can be tried on rectangular closures. It is not investment advice.
Comments
denondj87
monthly short it is need to close low, so up till 1880 maybe or less, and go short to close the weekly candle and monthly candle tp 1838 till 1776 thanks for sharing your analysis
MohegaN
@denondj87, thanks
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