03.10.2022
The general trend is descending. Gold is trading in a 365 and 135 EMA range directed downward. Awesome Oscillator indicator shows bearish divergence, and Stochastic Oscillator indicator signals overbought. A breach of 1659.50 will generate a descending wave structure, where wave (A) breaches the inclined channel of the ascending structure.
Trading idea:
Sell on a breach of 1659.50.
Stop Loss: 1676.00.
Target levels: 1641.00; 1616.00.
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