GOLD'S TRIANGLE - 4 HRS CHART
I post this as a neutral chart, though I think the chances are much bigger for a decline in gold.
Why?
COT is very bearish ( I will post soon)
Gold's weekly chart has a hanging man + we are turning down from the 200 EMA
We are on day 26 in the daily cycle which usually lasts for 28-35 days
So there are 2 possibilities of breaking out of the triangle.
If you play the long side have to be very careful because we can start heading down to the daily cycle low any time now...
The key is to break the 50 EMA (4hrs chart) for the way down to the DCL...
Why?
COT is very bearish ( I will post soon)
Gold's weekly chart has a hanging man + we are turning down from the 200 EMA
We are on day 26 in the daily cycle which usually lasts for 28-35 days
So there are 2 possibilities of breaking out of the triangle.
If you play the long side have to be very careful because we can start heading down to the daily cycle low any time now...
The key is to break the 50 EMA (4hrs chart) for the way down to the DCL...
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.