GOLD (XAUUSD): Your Trading Plan For Today
GOLD is currently trading in a unique area where a horizontal supply area has been recently broken and there is also a falling trend line. I anticipate a bearish accumulation in this specific area.
To confirm a short position, look for a double top formation on the 1-hour time frame with a neckline between 2626 and 2620. Wait for a bearish breakout with an hourly candle closing below this level, then sell on a retest.
The target for this trade will be 2592.
If the price breaks above this zone, the setup will no longer be valid.
To confirm a short position, look for a double top formation on the 1-hour time frame with a neckline between 2626 and 2620. Wait for a bearish breakout with an hourly candle closing below this level, then sell on a retest.
The target for this trade will be 2592.
If the price breaks above this zone, the setup will no longer be valid.
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