Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in commentsđź‘Š
Some days ago price bounced up from $1955 resistance level, which coincided with resistance area and entered to falling channel.
In channel, price declined lower two levels to support line of pennant, breaking them.
After this, price started to move up and in a short time rose to resistance line of pennant, exiting from falling channel.
Also, Gold broke $1915 level and recently it bounced of resistance line and fell to support line of pennant, where continues to trades now.
I think Gold can break support line, thereby exiting from pennant and trying to break support level.
When price breaks support level, it can make retest and continue to fall to $1890
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price bounced up from $1955 resistance level, which coincided with resistance area and entered to falling channel.
In channel, price declined lower two levels to support line of pennant, breaking them.
After this, price started to move up and in a short time rose to resistance line of pennant, exiting from falling channel.
Also, Gold broke $1915 level and recently it bounced of resistance line and fell to support line of pennant, where continues to trades now.
I think Gold can break support line, thereby exiting from pennant and trying to break support level.
When price breaks support level, it can make retest and continue to fall to $1890
If this post is useful to you, you can support me with like/boost and advice in comments❤️
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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.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
đź’Ž ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
đź’Ž ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
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.