XAUUSD, Technical analysis, 2 scenarios for trading...
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XAUUSD
The price is forming a bear-flag pattern,price may present 2 trading opportunities right now,
1_
If price break the support around $2,030 level, then price may continue lower and first target will be around $2,015 level, and if price breaks the support of $2,012-2,008 level then price could move lower towards $1,990-1,980 level.
2_
If price move higher from the current level, then around 61.8 fib level, we might get sell opportunity, if price shows rejection around 61.8 fib level,then first target will be around $2,030 level and if that support gets broken then price may move lower..
If price breaks above 61.8 fib level then bearish scenarios will get invalidated..
For Entry:
Wait for the formation of Bearish Candlestick Pattern to close on 1hr timeframe for confirmation to SELL..
Trade it with proper Sl..
In case, if price breaks above the support/resistance then we have to wait for a clear direction..
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
XAUUSD
The price is forming a bear-flag pattern,price may present 2 trading opportunities right now,
1_
If price break the support around $2,030 level, then price may continue lower and first target will be around $2,015 level, and if price breaks the support of $2,012-2,008 level then price could move lower towards $1,990-1,980 level.
2_
If price move higher from the current level, then around 61.8 fib level, we might get sell opportunity, if price shows rejection around 61.8 fib level,then first target will be around $2,030 level and if that support gets broken then price may move lower..
If price breaks above 61.8 fib level then bearish scenarios will get invalidated..
For Entry:
Wait for the formation of Bearish Candlestick Pattern to close on 1hr timeframe for confirmation to SELL..
Trade it with proper Sl..
In case, if price breaks above the support/resistance then we have to wait for a clear direction..
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
