After looking at XAUUSD, I see a potential for it to retrace back down to 1794 levels, this is supported by the following points:
If planning to take this trade Goodluck and keep a tight stop-loss just above the resistance
- 5min Resistance that has formed
- The candles have hit the resistance of the upwards channel and failing to break above it.
- The Relative strength index of 30min Upwards is overbought, we have to go down now
If planning to take this trade Goodluck and keep a tight stop-loss just above the resistance
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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.