XAU USD DROP
Updated
XAUUSD is situated into a rising wedge which means the price makes higher highs and higher lows in the final will be a breakdown from this channel
We have a strong ichimoku cloud resistance at 3D timeframe and the sell pressure is really big.RSI is above neutral zone so if bulls want to make another attempt they need to hurry because the buy pressure dropping everyday.
STOCH is overbought but bulls can make another attempt.In my opinion this can be a good trade ONLY if the price will going up untill 1247 which is the 0.5 FIB and after will going down.
Potentialy entry-point for short at 1245 with 1118 last target
ENJOY.I will enter on this trade only if they hit 0.5 fib resistance
Trade active
First target hitted
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