GOLD (XAUUSD): Two Scenarios For Next The Week Explained 🥇

٣ أكتوبر ٢٠٢١

Hey traders,

Gold remains very bearish since the beginning of September.
The price is steadily falling within a wedge pattern on a daily.

Approaching its resistance, here are two potential scenarios for you to trade & follow:

• Remember that while the price is within the boundaries of the wedge,
  we remain bearish biased.
  On 4H I see a perfect foundation for a double top formation.
  1745 - 1750 will be its neckline.
  Wait for its bearish breakout as your signal to short with 1725 being the initial target.
  
  
• Bullish breakout of the resistance of the wedge will be a strong bullish trigger.
  In case of a daily candle close above that, a bullish continuation will be expected at least to 1786.
  

Wait for the decision of the market & then follow.

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٤ أكتوبر ٢٠٢١

ملاحظة

Check my new idea on GOLD: