Price makes a very nice bearish pattern after touching on trendline (3rd time) However, it breaks up and makes a rising channel indicating bearish continuation. Coming now, we can see that price breaks down ascending channel and heading to downside as projected. We can sell here and hold using 90% target. Scale in can be done on high probability corrections
Price perfectly respects trendline and squizing before drop or hike
We can see that Daily moving average is one of the main resistance level which price rejecting from that level.
If price breaks up then we can go long aiming for Daily MA.
Use break evens on every cycle
The pair is forming very nice 3rd touch rejection on trendline and as well as 5 movement within pattern, before choosing its way
On smaller timeframe, there is a break on moving average. Buying GU now it is better to place your stop loss below current low
GOLD strong rally after breakding up control center and has been consolidating after reaching ascending trendline. Now from the side price pattern, we can find a very nice ABCD pattern. Although on lower timeframe rejection movement
We can sell here GOLD and aim for anpther bear movement aiming ascendling lower trendline, possibly the starting zone of pattern
Price is forrming in a really nice struckture than can give huge persentage
The first thing is price dropped and again rallied back to the supply zone giving another opportunity for short position
On the other hand, previous low could be another bounce zone so it is good to use break even when price comes there.
For scaling in, it is better after price breaks...
The pick of the short uptrend
Ascending channel gets momentum for downtrend move / Breaks down
Bigger correction channel on descendinig trendline
More confident trade aiming at least third touch of correction channel pattern
Price moving in a very clear structure formation with correction and contination patterns
Currently, we have three touch pattern at the middle of impulsive wave up. Price probably form another continuation patter. We can sell here or after completing impulse wave to 3rd touch before a big sell