The quick rejection that precedes the breakout of the bearish channels indicated on the chart reveals a possible downward movement on XAUUSD.
However, it is advisable to wait for the price to step back inside the channel comfortably, before looking in a short position.
Watch out, for the alternative bullish run of price retesting the OB at the previous supply area.
However, it is advisable to wait for the price to step back inside the channel comfortably, before looking in a short position.
Watch out, for the alternative bullish run of price retesting the OB at the previous supply area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.