Gold XAUUSD

Hi Traders I really hope some of you took my advise on my previous TA as I would say they were pretty much bang on. I will keep the charts simple from now on. As I mentioned last Sunday that Daily TF is showing time for price correction. 1 Hour TF is used to identitfy trends for intraday trading and you can see a clear downtrend.

If there is a break out of this decending channel then im sure price will reach back to the 2000+ area also Daily price is still above 50 Ma. However with the recent Peace talks we are seeing alot of selling pressure. During any kind of global unrest youl find people store their money in Gold , however when there is ease investors will release money to invest in other projects. (Tutorial)

Trend is Friend at the Mo !

Goodluck Traders have a profitable week