XAUUSD ( INSIDE DESCENDING CHANNEL ) ( 4H )
Updated
XAUUSD
HELLO TRADERS
currently the price of the gold trading inside descending channel , and below turning level at 2,459$ , yesterday the price with open the market rising know could be continues rising to reach a supply zone around 2,459$ .
TARGET LEVEL :
HELLO TRADERS
currently the price of the gold trading inside descending channel , and below turning level at 2,459$ , yesterday the price with open the market rising know could be continues rising to reach a supply zone around 2,459$ .
- Tendency, the price inside descending channel and trading below turning level , indicates under down ward pressure .
- Upward Zone : in order see increase , should be the price breaking turning level at 2,459$ , to rising and reach resistance level (1) at 2,474$ , by breaking and stabilizing above this level it will be attempt to reach 2,486 $ , then reaching a resistance zone around 2,495$ and 2,510$ .
- Downward Zone: until the price trading below supply zone around 2,452$ and 2,459$ , dropping to reach support level (1) around 2,421$ , and after breaking this level by closing 4h candle below it indicates further decline to support zone around 2,406$ and 2,391$.
- CORRECTIVE : currently price it will be attempt to huge retest to reach a turning level at 2,459$ before dropping .
TARGET LEVEL :
- RESISTANCE LEVEL : 2,47$ ,2,486$ , 2,494$ .
- SUPPORT LEVEL : 2,421$, 2,406$ , 2,391$ .
Trade active
as mentioned , price rising a turning level reach our target , currently the price trading blow turning level starting a decline breaking this level still rising to reach resistance level (1) .
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