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XAUGUSD is now in a downtrend, ion a bearish market since it has broken the major Countertrendline (blue line). And this is Reason Number one why to short it. Other Reason is, it has bounced perfectly at the 50% of the Fibonacci Level. I will now wait to break the minor Support, after that I will enter the Trade.
XAUGUSD is now in a downtrend, ion a bearish market since it has broken the major Countertrendline (blue line). And this is Reason Number one why to short it. Other Reason is, it has bounced perfectly at the 50% of the Fibonacci Level. I will now wait to break the minor Support, after that I will enter the Trade.
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Disclaimer
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.