looking towards the daily time frame and the four hour time frame will clearly and no doubt let you know that gold will hit back to 1813.42 dancing and wiggling within 1834.59 to 35 36 37 then any moment from these expect heavy micro fall back to 1821.00 below yeah!
There is a probability that XAUUSD is going to hit the trendline is been creating making of a big triangle since 2th NOV 2020 i project it could hit the 1855 before declining back to 1800 in respect the maintaining the Triangle. Tho there are two projections but currently the probability of hitting the 1855 is higher since it didn't break the long support from FEB...
The markiet was in an up trend but it broke out and created a lower low,. with this move the market is expected to hiot the prevoius low and create a new resistance . when this happens, the marketg will head further in a bearlish direction.
Price is currently in a descending triangle . There is also a head and shoulder pattern formation underway which confirms a trend change is about to happen. Price is currently on the temporary support level .
Wait for a retest of the downward trendline for your entry or a break of the neckline.Use the fibonacci retracement tool to enter at the 61.8% level.
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