Dear Trader,
Whilst I see a rising wedge in the 4HR time frame for which price action is sell.. I strongly believe that sellers need to be very careful here as I see Gold likely to touch the top of the up channel before any major reaction.
Gold is very likely to take out the previous ATH going by the bullish momentum we have seen so far and this calls for a lot of caution and patience with this pair. It is not also advisable for buyers to buy without looking out for a high probability buy zone based on price action.
Regards
Whilst I see a rising wedge in the 4HR time frame for which price action is sell.. I strongly believe that sellers need to be very careful here as I see Gold likely to touch the top of the up channel before any major reaction.
Gold is very likely to take out the previous ATH going by the bullish momentum we have seen so far and this calls for a lot of caution and patience with this pair. It is not also advisable for buyers to buy without looking out for a high probability buy zone based on price action.
Regards
FINSPOT ACADEMY