XAUUSD Short term correction is in order.
Gold / XAUUSD is extending the August Channel Up, having priced yesterday the latest Higher High on a +6.00% increase from the bottom.
This is the start of the technical short term pull back of the Channel.
The 1day MA50 hasn't been broken yet, so the price is still high enough for a good short.
Target the 0.382 Fibonacci retracement at 2700, which is where the last two pull backs found bottoms.
Previous chart:
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This is the start of the technical short term pull back of the Channel.
The 1day MA50 hasn't been broken yet, so the price is still high enough for a good short.
Target the 0.382 Fibonacci retracement at 2700, which is where the last two pull backs found bottoms.
Previous chart:
Follow us, like the idea and leave a comment below!!
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