The price is moved within descending triangle patterns and looks solid with the bearish structure. However, I will see the behavior price in the recent zones highlighted before confirming it as a solid bearish trend.
For your consideration before taking this idea please mind your core principles of your trade confluences with proper risk reward...
OANDA:XAUUSD has been riding the bullish wave for quite some time and therefore I will not yet recommend going short for the long term. This is a short term setup and here are my reasons.
Volume : Falling Volume when price tests the resistance trendline indicates that bulls is not giving the necessary power to breakout.
Triangle : The Triangle that is forming is...
Don't like this chart for the bulls
Consistent lower highs since summer 2017
Bit of a floor around 2000 - 2200 sats
Concave price action is really bearish
Wouldn't be surprised to see the trap door open on this and see all the ripple moonboys capitulate
Possibility of this coin loosing its top 10 seat. Plenty of other projects deserving of the spot....
The whole Bear and Bull Market we had in 2018 & 2019 can be summarized into four big triangles. We had massive bull runs plus heavy drops which we experienced corrections after that in the forms of ascending and descending triangles. Price should repeat itself and we must await for that to happen in a ascending triangle which is forming right now.
Brexit uncertainty spirals back after the Bojo sad defeat on his plan. October 31 will be extended for a small-time period seem so and PM Johnson can blame the opposition for mucking up the schedule . The EU is in no hurry. Is it 10 days or 3 months? Who knows. Break below the horizontal trendline of the descending triangle should only consider the...
KEY has been accumulating for weeks and has attempted to break the descending triangle a few times recently, it is now at it's breaking point, it either breaks down or explodes up. Market sentiment would assume the latter, not to mention the double bottom formation
MACD crossover and rising
RSI is rising, lots of room to grow
First target 84-88 range