empty
12.07.2022 09:45 PM
Gold: deeper drop in play

This image is no longer relevant

XAU/USD Downside Continuation Pattern!

The price of Gold dropped to new lows after failing to stay above the 1,733 former low which represented a downside obstacle. Now, it was traded at the 1,727 level at the time of writing below the 1,728 previous low. This level was seen as a downside obstacle as well. Dropping below this level signaled more declines.

Personally, I've drawn a downtrend line. As long as it stays under this line, Gold could drop towards new lows. The downtrend line stands as an upside obstacle.

Gold Trading Conclusion!

The breakdown below 1,728 and retesting this level signaled a downside continuation and it was seen as a selling opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders – July 11th (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The price test at 146.83 occurred when the MACD indicator had already moved far below the zero line, limiting the pair's

Jakub Novak 13:49 2025-07-11 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 11th (U.S. Session)

Trade Review and Tips for Trading the British Pound The price test at 1.3547 occurred when the MACD indicator had just begun moving downward from the zero line, confirming

Jakub Novak 13:06 2025-07-11 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – July 11th (U.S. Session)

Trade Review and Tips for Trading the Euro The price test at 1.1694 occurred when the MACD indicator had already risen significantly above the zero line, limiting the pair's upward

Jakub Novak 13:01 2025-07-11 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 11th – Forex Trade Review and Strategy

The price test of 146.32 occurred when the MACD indicator had just started to rise from the zero line, confirming a valid entry point for buying the dollar. This

Jakub Novak 09:06 2025-07-11 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on July 11th – Forex Trade Review and Strategy

The price test of 1.3598 occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downward potential. For this reason

Jakub Novak 09:02 2025-07-11 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on July 11th – Forex Trade Review and Strategy

The price test of 1.1725 occurred at the moment when the MACD indicator had just begun to move downward from the zero line. This confirmed the validity of the euro

Jakub Novak 08:56 2025-07-11 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – July 10th (U.S. Session)

Trade Review and Tips for Trading the Japanese Yen The test of the 146.41 level occurred when the MACD indicator had already moved significantly above the zero line, which limited

Jakub Novak 20:17 2025-07-10 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – July 10th (U.S. Session)

Trade Review and Advice on Trading the British Pound The test of the 1.3612 level occurred when the MACD indicator had already moved significantly above the zero line, which limited

Jakub Novak 20:07 2025-07-10 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – July 10th (U.S. Session)

Trade Review and Euro Trading Advice The test of the 1.1729 level occurred when the MACD indicator had already moved significantly below the zero line, which limited the pair's downward

Jakub Novak 20:01 2025-07-10 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on July 10th. Forex Trade Review

Trade Analysis and Recommendations for the Japanese Yen The test of the 146.51 level occurred when the MACD indicator had just started to move down from the zero line, confirming

Jakub Novak 09:36 2025-07-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.