GOLD DOWNTREND ON WEEKLY TIMEFRAME. Weekly timeframe shows strong bearish pressure to the downside. Will 1620 support break?
Resistance broken, became support, rejected. 30 Min Timeframe -40 pip risk +160 pip reward. 1:4
Bearish engulfing on key resistance level. I predict price will continue the downtrend.
XAUUSD resistance violated, will looking to buy at new support level. Price was trading between a horizontal level for good while, but last week buying pressure broke the resistance level.
Price will make another higher low Set limits as 52.220 Sl 152.600 Target 150.700 Good luck!
Wait for confirmation on key level and fibb levels before placing orders. Good luck!
Price broke key level and daily trendline, then came back and retested. Rejected 61.80% fibb levels. Target 1830
XAUSD SELL INCOMING BE READY SELL WHY?? 1. PIN BAR REJECTION IN LINE WITH THE DOWNTREND 2. REJECTION ON KEY LEVEL 3. REJECTION FROM 21 MOVING AVERAGE 4. FORMATION OF SHOOTINGSTAR CANDLESTICK ON DAILY TIMEFRAME. REMEMBER, LONGER THE WICK. STRONGER THE REJECTION. VERY NICE RISK:REWARD. GOOD LUCK TRADERS!
POSSIBLE BEARISH OUTCOME. Only enter after rejection is seen from our key level. SL above last high. TP next support. Good luck!