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Gold Spot / U.S. Dollar
Short
Updated

XAUUSD 4H

578
Bearish engulfing rejection to weekly resistance.. Awaiting breakout of channel & support for shorts down to potentially monthly key level 1300
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a break of 1345, the next area of minor support is 1332.
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snapshot taking a closer look price looks to be trying to breakout of its channel, I would like to see a break of 1343.50 & retest of the zone turning into resistance to enter this pair.. Patiently waiting while price action does its thing
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snapshot
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potential entry on the next candle retest to the 61.8 snapshot
Trade active
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snapshot price retesting broken support to resistance
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snapshot lets go.. Simple break & retest of zone now headed to 1325
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snapshot potential higher time frame trendline retest
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snapshot Got close to getting stopped out, however price reversed back to the downside. 1325 still my first target
Profound_Ambition
Bearish EngulfingbreakGoldParallel ChannelSupply and DemandSupply ZoneSupport and ResistanceTrend AnalysisDJ FXCM IndexXAUUSD

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.
Bearish EngulfingbreakGoldParallel ChannelSupply and DemandSupply ZoneSupport and ResistanceTrend AnalysisDJ FXCM IndexXAUUSD
Profound_Ambition

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.