XAUUSD
According to Gold daily chart the bearish trend has been started a few days ago which has retraced about 23.6% of the bearish move.
It is also dealing with its 20 moving average and if Gold could break this MA the Price would move down to 1848.33 which might be the first support .
If Gold would break this support level the bearish trend continues and next Moving Average which is 200 will be another support level for it.
According to the previous bearish trend which happened to Gold another support level for cold would be about 1764.60.
.
Therefore the Stop Loss in this Short position could be somewhere around the previous top which is about 1951.87
.
Please share your ideas in the comments
It is also dealing with its 20 moving average and if Gold could break this MA the Price would move down to 1848.33 which might be the first support .
If Gold would break this support level the bearish trend continues and next Moving Average which is 200 will be another support level for it.
According to the previous bearish trend which happened to Gold another support level for cold would be about 1764.60.
.
Therefore the Stop Loss in this Short position could be somewhere around the previous top which is about 1951.87
.
Please share your ideas in the comments
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