GOLD TF TRADE
Pair: XAUUSD
Trade Opportunity: Sell
Type: Scalping
I am expecting a trend-following bearish trade. The market is moving overall in a pattern of lower lows and lower highs on the daily chart. Recently, it broke the support level from October 9 to the downside last night, and now it is retesting this support level, which we now view as resistance after the breakout.
On the 15-minute chart, a head and shoulders pattern has formed, with the neckline already broken to the downside, and it is currently being retested.
Entry 2606.72
Sl 2614.30
Tp 2597.21 & 2593.21
Trade Opportunity: Sell
Type: Scalping
I am expecting a trend-following bearish trade. The market is moving overall in a pattern of lower lows and lower highs on the daily chart. Recently, it broke the support level from October 9 to the downside last night, and now it is retesting this support level, which we now view as resistance after the breakout.
On the 15-minute chart, a head and shoulders pattern has formed, with the neckline already broken to the downside, and it is currently being retested.
Entry 2606.72
Sl 2614.30
Tp 2597.21 & 2593.21
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