Gold XAUUSD bearish scenario ...
price trapped in a falling channel shape in 4h chart
I drew a mid-channel trend line that price had been showing reaction to it since it fall into this channel
now we have a powerful resistance zone created by the trend line I mentioned above and fib retracement numbers above our price that prices is hitting now
if we manage to keep this resistance zone , we can have a good bearish rally below the channel supporting line
THIS IS JUST AN ANALYSIS...
I drew a mid-channel trend line that price had been showing reaction to it since it fall into this channel
now we have a powerful resistance zone created by the trend line I mentioned above and fib retracement numbers above our price that prices is hitting now
if we manage to keep this resistance zone , we can have a good bearish rally below the channel supporting line
THIS IS JUST AN ANALYSIS...
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.