DeGRAM | GOLD trendline breakout
Updated
GOLD has broken down the ascending channel.
The chart broke down the dynamic support, which now acts as resistance. XAUUSD is trading between the trend lines.
We expect the decline to continue after the dynamic resistance is retested.
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The chart broke down the dynamic support, which now acts as resistance. XAUUSD is trading between the trend lines.
We expect the decline to continue after the dynamic resistance is retested.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
Note
GOLD is moving between trend lines.
Having reached the support, the chart formed the ‘Adam and Eve’ pattern, which failed to work, having encountered dynamic resistance.
In an attempt to break the trend line, the price formed a bearish takeover candle.
We expect a decline.
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