GOLD:DOWNTREND | PRICE ACTION ANALYSIS | SHORT SETUP đź””
Good Morning traders. Update on the analysis GOLD
London session started with a Bullish candle on Gold after the price in the last session was rebounding around the area 1730.000 and in this area between 1730.00 and 1750.000, we are waiting for another impulse to the downside. This area of the price it's working like a solid Resistance. As we can see I have drawn a dynamic resistance, working also like a bearish channel and our forecast it's of course Bearish.
The Indicators analysis show, that the Ichimoku forecast is bearish and stochastic with a divergence in overbought.
What do you think about my setup?
London session started with a Bullish candle on Gold after the price in the last session was rebounding around the area 1730.000 and in this area between 1730.00 and 1750.000, we are waiting for another impulse to the downside. This area of the price it's working like a solid Resistance. As we can see I have drawn a dynamic resistance, working also like a bearish channel and our forecast it's of course Bearish.
The Indicators analysis show, that the Ichimoku forecast is bearish and stochastic with a divergence in overbought.
What do you think about my setup?
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