Now it seems clear that the upside rebound on Gold (1047 to 1365) has come to an end, and
XAUUSD
is ready to continue a longer term downtrend.
As visibile on the daily timeframe, a downward trend line has formed beginning on the double top in correspondence with the major resistance in the 1370 area.
Seeing this simple structure, every break of every upside trend line is a good sell.
Updates on lower timeframes with potential setups will follow.
XAUUSD
is ready to continue a longer term downtrend. As visibile on the daily timeframe, a downward trend line has formed beginning on the double top in correspondence with the major resistance in the 1370 area.
Seeing this simple structure, every break of every upside trend line is a good sell.
Updates on lower timeframes with potential setups will follow.