XAUUSD | Descending Triangle
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Price forming a Descending Triangle. Currently we testing the Ichi Cloud resistance zone, and if there is a confirmed rejection we can retest the Horizontal Support Zone.
If pattern will continue forming we can initiate a short position in case there is a confirmed rejection of the Resistance Trendline.
Also the breakout of the Horizontal Support Zone will be a confirmation for the pattern and we can initiate a short position.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price forming a Descending Triangle. Currently we testing the Ichi Cloud resistance zone, and if there is a confirmed rejection we can retest the Horizontal Support Zone.
If pattern will continue forming we can initiate a short position in case there is a confirmed rejection of the Resistance Trendline.
Also the breakout of the Horizontal Support Zone will be a confirmation for the pattern and we can initiate a short position.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Join this telegram channel to see more ideas:
t.me/anputeam
Twitter account:
twitter.com/anputeam
t.me/anputeam
Twitter account:
twitter.com/anputeam
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.
Join this telegram channel to see more ideas:
t.me/anputeam
Twitter account:
twitter.com/anputeam
t.me/anputeam
Twitter account:
twitter.com/anputeam
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.