Still Looking out for 1940 Area to sell
Updated
XAUUSD has had an up and down movement, Which i could not even come close to realizing where the graph might be heading, But i see some meaning to the pattern now,
Generally the graph is downtrending and it has a strong resistance at the 1940 Levels , Here are the key points for me to consider selling:
This is not financial advice,but if you decide to take this trade wishing the best for you
Generally the graph is downtrending and it has a strong resistance at the 1940 Levels , Here are the key points for me to consider selling:
- The trend is downtrending
- It is about to reach a resistance area
- it is also about to touch the trendline, which is going downwards decline in those two points which is the Trendline and also the resistance ,(While lie at 1940) would mean a continuation of Selling.
- 1H RSI has reached the 70.00 Mark, meaning the market is about to sell
This is not financial advice,but if you decide to take this trade wishing the best for you
Note
The 4h timeframe shows me the possibility that we might take our profit at 1897.00, then see what happens when it gets there which is the support area, Its possible that we might further plunge down:
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