GOLD / USD - Descending channel - Fib retracement - S/R swap
Previous Support has turned into resistance at C.
1) Breakout, 2) Retest ..... 3) Continuation.
Price action has formed a descending channel... A,B,C
Retracement of downturn into the fibonacci sweet spot... C (Confluent with previous support)
All 3 confluences line up nicely. Watching price closely for signs of a sell!
1) Breakout, 2) Retest ..... 3) Continuation.
Price action has formed a descending channel... A,B,C
Retracement of downturn into the fibonacci sweet spot... C (Confluent with previous support)
All 3 confluences line up nicely. Watching price closely for signs of a sell!