Possible XAUUSD Short Trade
Updated
There is a possible correction looming, both RSI and Stochastic showing bearish divergence. There is some resistance at this level with it being testing it 4 times, we are now at the apex of an ascending triangle. The target projected from the triangle measurement is just above the 38.2% FIB level, this are should provide support to a move down before possibly moving back up to retest resistance.
Note
Price did not break below the trendline and has now broken to the upside so the triangle analysis is no longer valid.
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