Big Move by XAUUSD Expected!
Analysis
-XAUUSD looking bearish after showing signs of reversal. Buyers pushed price up into resistance but sellers repeatedly pushed price down before the daily candle closes.
-The price action resulted in a pinbar setup at resistance which is a bearish sign.
-On the 1H time frame, price looking to break the trendline to the downside.
-There is also bearish MACD divergence on the 1H time frame following a head and shoulders pattern which further eludes to price possibly moving lower in the coming days.
-The reward/risk is good for an entry on the break of the trendline (given the distance between daily S/R levels)
*Trade safe and at your own discretion!*
-XAUUSD looking bearish after showing signs of reversal. Buyers pushed price up into resistance but sellers repeatedly pushed price down before the daily candle closes.
-The price action resulted in a pinbar setup at resistance which is a bearish sign.
-On the 1H time frame, price looking to break the trendline to the downside.
-There is also bearish MACD divergence on the 1H time frame following a head and shoulders pattern which further eludes to price possibly moving lower in the coming days.
-The reward/risk is good for an entry on the break of the trendline (given the distance between daily S/R levels)
*Trade safe and at your own discretion!*
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.