XAU/USD Possible BreakdownHello friends.
I saw a Strong Trendline Breakdown in Gold and Decide to share
with you my opinion.
I think Gold is in Overbought Area and It will record some correction
in coming days.
So i have some reasons for my opinion:
1-In Daily chart we can see a strong Bearish Engulfing candle (as you see in picture below)
2-in Daily chart we can see a Divergence Between RSI and Price in Overbought Area (as you see in picture below)
3-A Strong Bullish Trendline Breaks down in 1H.
4-We reach an important Resistance near the last High and psycological level of 2000.
so for this reasons i think Gold experience a little correction in coming days.
I think Gold will reach targets like 1900 an after that 1880.
I hope you like my idea and i will be happy if you share me your opinion too.
Thanks for reading my idea.
Just dont forget to set a good Stoploss and enter a trade with at least 1:1 R/R.
Psycologicallevel
Are you prepared for the next Ethereum bull run soon? Check outAt the moment, the best chart to analyze Ethereum it's the H4 timeframe and well, we see that Ethereum it's still bullish in H4 timeframe, but if you look in Daily we are bullish, but looking in H4 it's more bullish and soon, we could see a next movement so volatil in Ethereum that I considered to large my long position toward the $2,000 dollars,that will be my next target to reach up because Ethereum it's so near to touch the $1,400, the maximum price that Ethereum make higher. So, for that, I have this plan becuase when Ethereum was around of $400 USD, the volatil was grow up a lot and well, the volatil above of $1,000 dollars it's so hard and compared with Bitcoinn, Bitcoin have a so volatil market in he history!!!
At the moment, I put a buy order limit at $1,990 USD and the SL it's around of $1,025 dollars.