XAUUSD Price is forming a series of lower highs and lower lows on the 4‑hour timeframe, indicating a downtrend bias. Recent resistance at the 70 EMA / descending trendline is holding strong,hard to break above.Based on recent candle pattern with long lower wicks at current price, it’s most likely A short term correctional swing might occur to zone 3295-3310.
Setup:
Entry: 3300-3310
Targets: 3260, 3240, 3210
Stop Loss: 3331
Risk: 1:2,3,5
Disclaimer: This is not financial advice.
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Disclaimer
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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.