Gold Spot / U.S. Dollar
Short

XAUUSD Channel Up topped and overbought on 1H

1 006
XAUUSD is trading on a Channel Up on the 1H timeframe.
The price reached its top and the Harmonic Resistance Zone.
The 1H RSI broke over the 70.00 overbought region.

Trading Plan:
1. Sell on the current market price.

Targets:
1. 1965 (Harmonic Support Zone and near the bottom of the Channel Up).

Tips:
1. The Channel Up is within a wider Triangle pattern. The more the price approaches the Triangle's top, the stronger the sell sentiment becomes.

Please like, follow and comment!!

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.