week43 Gold D1 shooting star Ready to resume downtrend

week43 gold D1 trappedtraders shooting star 261015

Month to month, Gold has been on a downtrend, with lower highs and lower lows being made.

Price is currently resisted by a trendline, with the confluence being created by the top of an ed channel.

This results in the formation of a bearflag, and suggests that price is poised to resume the downtrend.

Last friday, a trappedtrader signal was also printed in the form of a shooting star. This gave the oppoturnity to start loading up on short positions at the top of the resistance confluence.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s