end of the gold up trend?
in my opinion in these few Weeks gold will start a Down trend but there are two scenarios that might happen if it starts Down trending:
1. As you see it Touches the yellow area and gonna start down trending
2. Next few days Gold touch the red area and after checking oscillators and indicators you will see The reversal signs!
but I think the possibility of the second scenario is stronger because if you check Four hour timeframe With An oscillator like stochastic You will see it's going to the oversold area And it Means the up trend hasn't ended yet !
if Oscillators converging in multi timeframes (4h/1D/1W) then we can say down trend will start and it olny happen when price touches the red area !
Both of the two scenarios are based on the Elliott waves and Robert Minor strategy
good luck !
1. As you see it Touches the yellow area and gonna start down trending
2. Next few days Gold touch the red area and after checking oscillators and indicators you will see The reversal signs!
but I think the possibility of the second scenario is stronger because if you check Four hour timeframe With An oscillator like stochastic You will see it's going to the oversold area And it Means the up trend hasn't ended yet !
if Oscillators converging in multi timeframes (4h/1D/1W) then we can say down trend will start and it olny happen when price touches the red area !
Both of the two scenarios are based on the Elliott waves and Robert Minor strategy
good luck !