Mlando17

Price has been trading in an ascending channel signaling a bullish momentum Price also seems to be ascending in a Break of structure algorithm a retest on my minor resistance can push price to $3000 levels

ascending triangle on the 4hr time frame intersecting with a triple top resistance, with an ascending price-channel in the hourly time frame price can either decline on the support zone of the price channel or breakout of the channel and retest the support trendline before going up my target for gold is a long position to 2,786.828

The golden metal broke out of a major resistance zone, without pulling back for a retest. It about time that gold makes a correction, to turn the previous major resistance zone into a new major support level.

Gold is looking to make a lower high before eventually falling If price action really confirms a sell on my supply areas Then I'll be looking to place some short positions And take note that price broke out of my bullish trendline and pulled back up to do a breakout retest before falling further down and the fact that gold seems to be making lower highs and all this is just further confirmation of a downtrend taking place.

Gold is displaying a bearish market structure The yellow metal seems to have broken out of our bullish trendline signaling A bearish change of direction happening in the near future But price might do a correction before falling any further And I'm expecting that correction to be a retest on our trendline Final conclusion is buy gold for now and sell later

The golden market seems to have been making higher lows on its way up, so we might expect another retest on our previous minor resistance resulting in another HL before price pushes higher to break the main resistance. But also keep in mind that price formed a bearish harmonic pattern which may cause the bullish structure to fail when reaching the main resistance, but the best thing to do is to wait for price to display proper confirmation on which direction it will take...

Gold is trading near a very strong demand area If price declines on the demand zone We could expect a bullish move which Could retest or break our current major high A bullish harmonic pattern can also be additional Confirmation for my bias...

Gold has formed a head and shoulders pattern on the 30 minutes chart indicating the end of the bullish trend. The NFP news release on Friday will give us a clearer picture on what gold is planning on doing next.

Will gold continue with its bearish channel or will gold breakout of the trading channel and create newer highs for the bulls ???

- The Golden Market broke out of its bearish trend line. - Bullish harmonic pattern spotted on the support zone. - Waiting for a pullback towards the 1821.95 levels.