GOLD (XAUUSD) SET TO TAKE A NOSEDIVE
Hi Traders,
The 4-hour chart of XAUUSD shows a bearish reversal from a key resistance level at 1346.80 that broke below a support zone.
.
Currently, the price is retesting the swing level that lined up with Fibonacci ratio and moving averages in wave (iv) of A.
.
Considering that the price has reached a critical confluence area and the corrective zigzag pattern is almost completed, the odds strongly favored a sell-off below 1280.63 from near current levels.
.
As always, we will wait for the breakout of the blue CTL to confirm the sell setup.
.
Thanks for reading
Veejahbee.
The 4-hour chart of XAUUSD shows a bearish reversal from a key resistance level at 1346.80 that broke below a support zone.
.
Currently, the price is retesting the swing level that lined up with Fibonacci ratio and moving averages in wave (iv) of A.
.
Considering that the price has reached a critical confluence area and the corrective zigzag pattern is almost completed, the odds strongly favored a sell-off below 1280.63 from near current levels.
.
As always, we will wait for the breakout of the blue CTL to confirm the sell setup.
.
Thanks for reading
Veejahbee.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.