Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
Some time ago price moved inside a rising channel, making higher highs and holding above support levels.
Later, Gold broke resistance and continued to rise, reaching the upper boundary of the price channel.
After touching $3076 zone, price turned around and exited the channel with a strong bearish impulse.
Recently, it made a breakout below $3055 level and bounced from the area without a strong upward reaction.
Now Gold trades below resistance zone and holds under broken channel, forming local bearish structure.
In my opinion, Gold can continue to decline and reach $2920 points during the next wave down.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some time ago price moved inside a rising channel, making higher highs and holding above support levels.
Later, Gold broke resistance and continued to rise, reaching the upper boundary of the price channel.
After touching $3076 zone, price turned around and exited the channel with a strong bearish impulse.
Recently, it made a breakout below $3055 level and bounced from the area without a strong upward reaction.
Now Gold trades below resistance zone and holds under broken channel, forming local bearish structure.
In my opinion, Gold can continue to decline and reach $2920 points during the next wave down.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Trade active
Good! Gold declined, so I think it can make a minor correction up and then continue to move down.
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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
💎 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
💎 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.