Gold Chart is like Pattern Lesson. 6-7 patterns in one graph
When we look at XAUUSD 15 min chart, we can see 7 different pattern/formations.
From beginning in purple; we can see double bottom and than jump up.
Right after that in red; descending triangle forms and than decrease in price.
After one and a half day, bear flag forms in yellow.
When the bear flag completed, pink cup formation happens and price jumps to highest for the day.
By the time cup formation, RSI shows some tired moves. When the price increases RSI keeps descending and indicates bearish moves.
After two bullish formations, we can see the bearish flag in green. At the formation of bearish flag we can also spot the fake breakout in blue.
From beginning in purple; we can see double bottom and than jump up.
Right after that in red; descending triangle forms and than decrease in price.
After one and a half day, bear flag forms in yellow.
When the bear flag completed, pink cup formation happens and price jumps to highest for the day.
By the time cup formation, RSI shows some tired moves. When the price increases RSI keeps descending and indicates bearish moves.
After two bullish formations, we can see the bearish flag in green. At the formation of bearish flag we can also spot the fake breakout in blue.