XAUUSD: Gold is ready to sell in the 1920-1923 range
Updated
At present, gold bears are the absolute main force, and they continue to fall and fall endlessly. Those who are short-selling have repeatedly made profits, and those who buy the bottom against the trend are miserable. Technically, the continuous decline makes the price need to rebound and correct! Only by stopping can we move forward better. Running all the way is unbearable for everyone. During the day, we can wait for the price to pull back to the pressure level of 1920-1923, which presses the trend line. In the short term, we will look towards the support level of 1910 Fibonacci 0.618!
From a technical point of view, the price has stably maintained under the pressure of the trend line and moving average. The moving average pressure level has also been revised down to the 1922 line, and the trend line pressure is at 1923. The big negative line on the one-hour chart last night has shown the market's tendency to bearish. The market outlook will continue to remain bearish, but the main focus during the day is to see shock corrections. In the absence of news stimulation, only shocks can brew a unilateral market! Today, the 1920-1923 line is ahead of schedule and Sell is waiting for the price to be drawn back in place. During this period, do not go against the trend to buy bottoms and do long
From a technical point of view, the price has stably maintained under the pressure of the trend line and moving average. The moving average pressure level has also been revised down to the 1922 line, and the trend line pressure is at 1923. The big negative line on the one-hour chart last night has shown the market's tendency to bearish. The market outlook will continue to remain bearish, but the main focus during the day is to see shock corrections. In the absence of news stimulation, only shocks can brew a unilateral market! Today, the 1920-1923 line is ahead of schedule and Sell is waiting for the price to be drawn back in place. During this period, do not go against the trend to buy bottoms and do long
Trade active
Prepare to sellTrade active
Trade active
Trade active
Trade active
The Sell order has now started to make a profit, but the possibility of reaching the target 1910 is very high, so you can continue to keep it and wait patiently for greater profits.
Trade active
Trade active
Trade active
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.