Locally, on the hourly XAUUSD timeframe, we can clearly see how the price is breaking out of the uptrend, thereby triggering a downward impulse.
Resistance levels: 3325, 3343
Support levels: 3303, 3275
The liquidity level of 3300 could act as a magnet for the price, from which a correction to the resistance of the range of 3325 could form (liquidity hunt), but due to the change in the fundamental background, gold may continue its correction to 3275 (support zone) before a possible continuation of growth..▶️📌
Resistance levels: 3325, 3343
Support levels: 3303, 3275
The liquidity level of 3300 could act as a magnet for the price, from which a correction to the resistance of the range of 3325 could form (liquidity hunt), but due to the change in the fundamental background, gold may continue its correction to 3275 (support zone) before a possible continuation of growth..▶️📌
Trade active
gold may continue its correction to 3275 - i will hold my sell entries to 3276Trade closed: target reached
I will place my sell entries range 3305 3302 SL 3308
TP 3276
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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.