XAUUSD Excellent sell opportunity next week
Gold / XAUUSD delivered earlier this month (chart at the bottom) an excellent sell opportunity that emphatically hit our 1935 target.
This week the price rose back to the October 27th High, which is the obvious Resistance.
As long as the 1day candles close under the Resistance, we will treat them as a Double Top formation, hence a sell opportunity.
On top of that, previous similar bullish sequences in 2023 targeted the 0.618 Fibonacci level after the 0.382. Basically the current pattern is quite similar to April's.
Even the 1day MACD that formed a Bearish Cross to target the 0.382 Fibonacci, is now on a squeezed flattened pattern like May 4th.
Sell on next week's opening and target 1890 (Fibonacci 0.618).
Previous chart:
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This week the price rose back to the October 27th High, which is the obvious Resistance.
As long as the 1day candles close under the Resistance, we will treat them as a Double Top formation, hence a sell opportunity.
On top of that, previous similar bullish sequences in 2023 targeted the 0.618 Fibonacci level after the 0.382. Basically the current pattern is quite similar to April's.
Even the 1day MACD that formed a Bearish Cross to target the 0.382 Fibonacci, is now on a squeezed flattened pattern like May 4th.
Sell on next week's opening and target 1890 (Fibonacci 0.618).
Previous chart:
Follow us, like the idea and leave a comment below!!
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