XAU/USD- Daily overview
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-On a daily time frame chart, we can see that the price reached a solid area of resistance.
-The price formed a spinning top pattern which shows us indecision in the market so that means that the bears and bulls are in similar control but in this case, we can see that at the end of the day the price closed in a bearish form.
-The price moves in a descending channel so if the price breaks the resistance line we can expect that the price is going to reach the upper trend line of the descending channel and then we can also wait for the sell setup to appear.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily time frame chart, we can see that the price reached a solid area of resistance.
-The price formed a spinning top pattern which shows us indecision in the market so that means that the bears and bulls are in similar control but in this case, we can see that at the end of the day the price closed in a bearish form.
-The price moves in a descending channel so if the price breaks the resistance line we can expect that the price is going to reach the upper trend line of the descending channel and then we can also wait for the sell setup to appear.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
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