Short on XAUUSD pitchfork analysis
Updated
Gold went straight to 0.618 Fibonacci retracement from previous downtrend. Now it's time to short.
Trade active
Headed to the green pitchfork trendline.Trade active
Also there's an important support level on 1564.81 in M30 XAUUSD that belongs to 200 Simple Close Moving Average. The price has already been repressed there a time. Let's see how it reacts to 200 SMA. If 200 SMA passes from support to resistance, it's more likely for the price to keep going down to the red pitchfork trendline. Anything is sure here, it's about catching up more and more probabilities in your favour.
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