Analysis of Gold | Don't Trade Against the Trend! ð
Let's look at gold from a long-term perspective on the chart.
Gold is showing a very strong upward trend, and well, after so much price increase, everyone is expecting a correction! Especially when the trend is strongly bullish! ð
If you intend to sell gold, wait for confirmation of a downtrend in at least the 4-hour time frames.
Currently, the market boundary is at 2142, and until the price drops below this level, the trend is still upward towards 2200.
If gold forms a downtrend pattern and its price falls below 2142, we have confirmation of a downtrend, at least down to 2100.
I tried to help you to the best of my ability. Good luck everyone! ð
Gold is showing a very strong upward trend, and well, after so much price increase, everyone is expecting a correction! Especially when the trend is strongly bullish! ð
If you intend to sell gold, wait for confirmation of a downtrend in at least the 4-hour time frames.
Currently, the market boundary is at 2142, and until the price drops below this level, the trend is still upward towards 2200.
If gold forms a downtrend pattern and its price falls below 2142, we have confirmation of a downtrend, at least down to 2100.
I tried to help you to the best of my ability. Good luck everyone! ð