The is a possible double top on the making , when gold is viewed from monthly perspective. The are few thing which i have noted supporting this idea , 1. the month trendline has been broken
2. the foundation of the DT indicates a trend engulfment
3. second trendline has been retested at 38.2 fibo retracement
4. momentum was gained down side after the first rejection from a 44 SMA (2016)
5. 11 EMA and 21 SMA have crossed to the downside
6. currently price being fort at the 44 SMA... last months candle rejected
Just an idea not to be taken as any trading advice , currently USD is under pressure and everything looks hawkish but long term the is a possibility this set up might play out .
2. the foundation of the DT indicates a trend engulfment
3. second trendline has been retested at 38.2 fibo retracement
4. momentum was gained down side after the first rejection from a 44 SMA (2016)
5. 11 EMA and 21 SMA have crossed to the downside
6. currently price being fort at the 44 SMA... last months candle rejected
Just an idea not to be taken as any trading advice , currently USD is under pressure and everything looks hawkish but long term the is a possibility this set up might play out .
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.