WTFX Gold Weekly Forecast
Price is steady climbing higher showing that the down trend maybe over.
1W- Neutral power price is still too close to the current descending channel. conformation of the breaking of the trend not fully clear.
1D- shows a Double bottom formation price is floating near the base of this formation. This pattern can be used two ways. For this bias we would like it to be a reversal of a downtrend. There is an inside bar signal . Need price to break the high of the mother candle. price is in a structed zone. Price is close to a major support level.
4h- Look out there maybe a Head & Shoulders forming. which a selling signal. Need additional data. if ranging begins use Elliott wave to ID the sequence. Above 50MA
1h- below 50MA
15m- below 50MA
1W- Neutral power price is still too close to the current descending channel. conformation of the breaking of the trend not fully clear.
1D- shows a Double bottom formation price is floating near the base of this formation. This pattern can be used two ways. For this bias we would like it to be a reversal of a downtrend. There is an inside bar signal . Need price to break the high of the mother candle. price is in a structed zone. Price is close to a major support level.
4h- Look out there maybe a Head & Shoulders forming. which a selling signal. Need additional data. if ranging begins use Elliott wave to ID the sequence. Above 50MA
1h- below 50MA
15m- below 50MA
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