Weekly and Daily trendlines on Gold
Hello traders
If we see in Weekly Chart, we will find a valid declining trendline where the XAUUSD respected in the last 2 weeks (in blue).
Also there is a rising trend too in the same timeframe (in blue).
Also in Daily chart there is a rising trendline (in red).
On 4h timeframe we can see a broken out triangle to the downside with a last Resistance nearly at 1860 (the first daily Pivot Resistance too). So we can expect a retest of that resistance, then reaching the last weekly high at 1828 (in blue),or extending to the last Daily high at 1808(in red).. also near to the buttom of the Daily trenline.
If you have any suggestions or views be free to share that in a comment ❤️
If we see in Weekly Chart, we will find a valid declining trendline where the XAUUSD respected in the last 2 weeks (in blue).
Also there is a rising trend too in the same timeframe (in blue).
Also in Daily chart there is a rising trendline (in red).
On 4h timeframe we can see a broken out triangle to the downside with a last Resistance nearly at 1860 (the first daily Pivot Resistance too). So we can expect a retest of that resistance, then reaching the last weekly high at 1828 (in blue),or extending to the last Daily high at 1808(in red).. also near to the buttom of the Daily trenline.
If you have any suggestions or views be free to share that in a comment ❤️
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