Battle of trends for Gold

18 Haz 2022

Gold have been trading sideways for long now and this is what I expect from the metals from here. The purple trend line is a new downtrend formed on the 20mins timeframe which Is my favourite timeframe you can still spot the trend on 15mtf. The red uptrend is the last 2-4h trend which have already pull back and I expect the red to be broken by the purple trend but in a situation where m formation take place on the 1 or 4h TF it could lead retest of the blue downtrend which I see less chance for that. The yellow uptrend is 4h-daily time frame trend which still leaves door open to visit 1878-90s if not broken. My bet now is test of the 1800-1753 if possible 1722 which is is located at the down part of the blue trendline. The green trendline near the blue trend is daily trend line which the up have been broken . The blue rectangle is nearest 4h zone on the done and pink rectangle is the last visited 2h zone. The oranges rectangle is zone formed on the way down from previous upswing. The tiny red rectangle is a 1h Linda resistance where there have alot of reactions. The black zone done is nearest weekly zone down. It's short over long for me for the main time still the yellow trend down is tested and if broken the blue/green trend down. Goodluck with that.
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