XAUUSD Will gold continues the downtrend?
The Gold has been declining the last couple of week. The market is currently very optimistic about the debt ceiling negotiation. I see the dollar getting stronger. Markets are pricing in a 37.8% chance of a 25-basis-point hike in June, according to the CME FedWatch tool.
Monthly
We can clearly see at the highs a triple top between the price of 2067 and 2075. The highs are very liquite. At one point the price will move to the highs to collect the liquidity. Also, price is in a top trend in this time frame. At the monthly time frame price still bullish which go against our analysis.
Weekly
The price created a bearish pattern. Also, there is a good point of liquidity that the price have not liquidated yet. I believe that before the price start a move to the upside the liquidity needs to be taken.
Daily
The price is in a clear downtrend. I would love to see a confirmation bearish pattern in this time frame before entering any position.
Monthly
We can clearly see at the highs a triple top between the price of 2067 and 2075. The highs are very liquite. At one point the price will move to the highs to collect the liquidity. Also, price is in a top trend in this time frame. At the monthly time frame price still bullish which go against our analysis.
Weekly
The price created a bearish pattern. Also, there is a good point of liquidity that the price have not liquidated yet. I believe that before the price start a move to the upside the liquidity needs to be taken.
Daily
The price is in a clear downtrend. I would love to see a confirmation bearish pattern in this time frame before entering any position.
Commentaire:
If price get to the entry zone before taking out the liquidity I will be taking this trade.
Transaction en cours:
Trade has touched our entry point.
Commentaire:
Trade is near our TP but we must be patient because the liquidity will be taken.
Trade fermée: cible de profit atteinte:
Price has reached tp
Wiiso