XAUUSD - Sell Position
Someone asked how I took this position. Let me explain the different reasons:
1. Two Bullish Legs: During the Asia session, XAUUSD formed two bullish legs. This suggested a pullback to the previous pivot level, even if it continues to rise in the London and NY sessions.
2. Bearish Flag Pattern: The trading range resembled a bearish flag, indicating a likely reaction and decline from this resistance zone.
3. Weakening Momentum: In the 5m chart, the three pushes up at the end of the second leg showed signs of weakening momentum, pointing to increased selling pressure. This signaled a high probability of a pullback.
These observations combined led me to anticipate a decline, making this position a strategic move based on technical analysis.
1. Two Bullish Legs: During the Asia session, XAUUSD formed two bullish legs. This suggested a pullback to the previous pivot level, even if it continues to rise in the London and NY sessions.
2. Bearish Flag Pattern: The trading range resembled a bearish flag, indicating a likely reaction and decline from this resistance zone.
3. Weakening Momentum: In the 5m chart, the three pushes up at the end of the second leg showed signs of weakening momentum, pointing to increased selling pressure. This signaled a high probability of a pullback.
These observations combined led me to anticipate a decline, making this position a strategic move based on technical analysis.
🚀 Join Our Free Telegram Channels!
📈 Crypto – Bitcoin daily analysis & exclusive Altcoins opportunities!
t.me/Sober_Trading
💵 Gold & Forex – Expert insights & accurate signals!
t.me/Sober_Forex
🎯 Stay ahead with free updates!
📈 Crypto – Bitcoin daily analysis & exclusive Altcoins opportunities!
t.me/Sober_Trading
💵 Gold & Forex – Expert insights & accurate signals!
t.me/Sober_Forex
🎯 Stay ahead with free updates!
🚀 Join Our Free Telegram Channels!
📈 Crypto – Bitcoin daily analysis & exclusive Altcoins opportunities!
t.me/Sober_Trading
💵 Gold & Forex – Expert insights & accurate signals!
t.me/Sober_Forex
🎯 Stay ahead with free updates!
📈 Crypto – Bitcoin daily analysis & exclusive Altcoins opportunities!
t.me/Sober_Trading
💵 Gold & Forex – Expert insights & accurate signals!
t.me/Sober_Forex
🎯 Stay ahead with free updates!
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.