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We are reaching a level where all confluences tells us to short.
Weekly time frame: We reached our 1790 weekly resistance level, furthermore, two important trend lines that have been forming months ago are acting as resistance here.
Lower time frames: We are forming a rising wedge that is breaking, if we break with confirmation, we should XAU go to our targets: 1760 1740 1725
On the other hand, a weekly candle close above our resistance level will cut out our trade then we will be full bullish again.
We will update you as always!
🔴: Weekly 🔵: Daily/lower
................................................................................................................................................................................... 🔹 What do you think?
Good luck traders, 🔹 Not financial advice Manage risk and leverage DYOR
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.