Dear Traders,
Based on three distinct analyses, XAUUSD appears poised to continue its downtrend:
1- There's an increasing density of low frequencies between 1857 and 1852. Notably, the 1852 level seems to be acting as a significant barrier against further price advancement.
2- The channel, highlighted in blue, similarly indicates resistance in the 1855 to 1852 range.
3- The asset has just broken through the red trendline indicated on the chart, further suggesting potential downward momentum.
Based on three distinct analyses, XAUUSD appears poised to continue its downtrend:
1- There's an increasing density of low frequencies between 1857 and 1852. Notably, the 1852 level seems to be acting as a significant barrier against further price advancement.
2- The channel, highlighted in blue, similarly indicates resistance in the 1855 to 1852 range.
3- The asset has just broken through the red trendline indicated on the chart, further suggesting potential downward momentum.
Note
Now we can move the SL at enter pointTrade closed: target reached
Related publications
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.
Related publications
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.