Hello Followers I am going to publish my technical setup on XAUUSD, So share your opinion in comments about my analysis..
XAUUSD is respecting the parallel channel very well in H1 time frame.. Currently XAUUSD is working at a resistance area and it's level is 2872/2877.. According to me XAUUSD will move further short (bearish) till the 1st Target 2845 that is parallel channel's middle line and then if it properly break this support then will reach to the 2nd target 2820 that is parallel channel's lower line support that works also as demand zone.. The level of demand zone is 2820/2815.. I Have also identified the short position in the chart also...
KEY POINTS:
ENTRY PRICE 2873
DEMAND ZONE 2820/2815
RESISTANCE AREA 2872/2877
TARGETS:
1st TARGET 2845
2nd TARGET 2820
CANCEL TRADE 2895
XAUUSD is respecting the parallel channel very well in H1 time frame.. Currently XAUUSD is working at a resistance area and it's level is 2872/2877.. According to me XAUUSD will move further short (bearish) till the 1st Target 2845 that is parallel channel's middle line and then if it properly break this support then will reach to the 2nd target 2820 that is parallel channel's lower line support that works also as demand zone.. The level of demand zone is 2820/2815.. I Have also identified the short position in the chart also...
KEY POINTS:
ENTRY PRICE 2873
DEMAND ZONE 2820/2815
RESISTANCE AREA 2872/2877
TARGETS:
1st TARGET 2845
2nd TARGET 2820
CANCEL TRADE 2895
Order cancelled
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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.
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.