GOLD (XAUUSD): Bearish Scenario For Next Week Explained 🥇

Short

Gold Spot / U.S. Dollar (OANDA:XAUUSD)

Updated

OANDA:XAUUSD Gold Spot / U.S. Dollar

doubletoporbottom flagpattern parallelchannel gold xauusd futures silver xagusd goldtrading goldidea

Hey traders,

After a 1-month long correctional movement within a bearish flag pattern,
on Friday the price finally broke and closed below its support.

A double top formation with a lower high and its neckline breakout increase the chances of a further decline next week.

I will expect a drop to 1763 / 1750 levels.

Good luck & have a great weekend, traders!

❤️Please, support this idea with like and comment!❤️

Comment:

Check my new idea on GBPAUD:

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel www.youtube.com/c/VasilyTrader

💰Instagram: www.instagram.com/VasilyTrader/ 💰

✅Facebook: www.facebook.com/VasilyTrading/ ✅

Related Ideas

about EURUSD 15

about BTCUSD 63

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.