Gold Short
Xau/USD analysis
I predict price will pull back to the trend line on h4 timeframe around 1582.51 which is also 78.6 fib retracement so there’s a lot of confluence in that area. Once price shows some bearish momentum I will look for sell opportunities with first take profit around 1548.35. Take profit # 2 will be 1535.68 which will be a -27 projection level on fib.
I predict price will pull back to the trend line on h4 timeframe around 1582.51 which is also 78.6 fib retracement so there’s a lot of confluence in that area. Once price shows some bearish momentum I will look for sell opportunities with first take profit around 1548.35. Take profit # 2 will be 1535.68 which will be a -27 projection level on fib.
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