XAUUSD Approaching the top of the Channel Up.
Gold / XAUUSD has had the strongest 1D green candle today since December 13 2023 and is approaching the top of the 3 month Channel Up.
That is a sell opportunity especially with the 1D RSI entering the overbought region.
That has formed the Highs of October 27th and December 1st 2023, which declined by -4.03% and -4.93% respectively.
The maximum decline inside this Channel Up has been -4.99% (February 14th 2024), which tested the 0.786 Fibonacci level.
Sell and target 2020 and if you want more risk, 2000, which is under the 0.786 Fib and at the bottom of the Channel Up.
Previous chart:
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That is a sell opportunity especially with the 1D RSI entering the overbought region.
That has formed the Highs of October 27th and December 1st 2023, which declined by -4.03% and -4.93% respectively.
The maximum decline inside this Channel Up has been -4.99% (February 14th 2024), which tested the 0.786 Fibonacci level.
Sell and target 2020 and if you want more risk, 2000, which is under the 0.786 Fib and at the bottom of the Channel Up.
Previous chart:
Follow us, like the idea and leave a comment below!!
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