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