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GOLD (XAUUSD) Looks Very Bearish! Here is Why (Trading Plan)



after a sharp bullish movement on ⚠️gold yesterday on the hourly chart,

the price stabilized and was quite weak during the US session.


analyzing the price action we see a sequence of lower highs and bullish reactions from 1885 setting equal lows.

it is a classic descending triangle formation and it is a bearish biased pattern.


in case if bears manage to close below its horizontal support on hourly, the price will drop.


first goal will be 1872.5


if we set a new higher high higher close on hourly, setup will be invalid.

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