XAUUSD LONG TERM SHORT
Being fully technical about this setup i would say prepare for a long term gold short
.the current 4hr timeframe bear trend is clear steming from the major double top on the daily
we can clearly see that we already have a break to the down side and a current upward move that is most likely gold retesting its breakout area
the retest has high chances of succeeding because that breakout area is just inbetween the 61.8% (1803.989) and the 50.0%(1782.077) fib level this gives us a chance to catch the long term short earlier should the retest be successful
.the current 4hr timeframe bear trend is clear steming from the major double top on the daily
we can clearly see that we already have a break to the down side and a current upward move that is most likely gold retesting its breakout area
the retest has high chances of succeeding because that breakout area is just inbetween the 61.8% (1803.989) and the 50.0%(1782.077) fib level this gives us a chance to catch the long term short earlier should the retest be successful
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.