Indices and commodities
#GOLD
Short
Active
XAUUSD More than a month of being ranged now comes to an end. for FX_IDC:XAUUSD by TheCryptagon
TradingView
GOLD
Indices and commodities
Active
Current price
4698.08
USD
PNL
+0.00%
4698.08 USD
Stop Loss
13.8%
5346.57 USD
Take Profit
13.8%
4049.86 USD
Rationale
TradingView idea: XAUUSD More than a month of being ranged now comes to an end. for FX_IDC:XAUUSD by TheCryptagon
TradingView symbol: XAUUSD
Gold / XAUUSD has been ranging between the 0.236 and 0.5 Fibonacci levels of the Channel Down for the past 6 weeks.
This consolidation might be coming to an end as the 4hour RSI has failed to breka above the Lower Highs trendline and every time it did so, the pattern kickstarted an aggressive bearish wave.
Target 4050 (0.786 Fibonacci level).
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Key details
- Ticker
- GOLD
- Asset class
- Indices and commodities
- Direction
- Short
- Status
- Active
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