XAUUSD | Descending Channel

Please support this idea with LIKE if you find it useful.

Price retraced of the Higher Boundary of a Descending Channel and crossed the Mid Line to downward. Currently the Mid Line serves as a resistance and if we have a confirmed rejection we can initiate a short position

Also if price cross the Mid Line to upward we can initiate a short position of the Higher Boundary of a Descending Channel, i case we have a confirmed rejection

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.