We have taken profits from our last XAUUSD buy trade from 1860 to 1907. Great profits for all who took that trade.
XAUUSD is currently approaching a resistance point, the down trend line. I recommend not taking any trades on this until we see how price reacts to this level.
Patience is crucial here.
If we get a rejection and a daily bear candle below down trend line after a test of the backside, we may see a large downside movement.
If we have a break above it, we should see gold retest past highs.
Let me know your thoughts and/or any questions you may have. Regardless of direction, we will ride the wave and profit.
Charles V
CVFX Management
Trading made Simple
XAUUSD is currently approaching a resistance point, the down trend line. I recommend not taking any trades on this until we see how price reacts to this level.
Patience is crucial here.
If we get a rejection and a daily bear candle below down trend line after a test of the backside, we may see a large downside movement.
If we have a break above it, we should see gold retest past highs.
Let me know your thoughts and/or any questions you may have. Regardless of direction, we will ride the wave and profit.
Charles V
CVFX Management
Trading made Simple
Note
We have a break above down trend line. Will update everyone next week but looking good for buys to target. Have a good weekend everyone!
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Related publications
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.