Charlieab94
Short

Gold XAUUSD Short *INTRADAY RESISTANCE*

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is looking to be rejecting the $1650 resistance zone now with multiple 4hr rejection candles forming. This is a lower high forming and there is potential for price to fall back down to the next support zone at $1580.

If that zone is broken then a lower low could be made which I have the -0.27 fib extension level drawn to show. This could be a good target profit 2 if price action shows the support zone breaking.
Mar 04
Trade active
Mar 04
Comment: Check out my blog site for more free trading education and technical analysis https://diaryofafinancekid.com/blog/

Comments

I have a bullish analysis instead. Do refer to my listing. What are all of your views?
+1 Reply
@YGForex, I will check your analysis out now :)
Reply
Dont you see a bullish flag formation?
+1 Reply
@Armash, Looks like you were correct mate :)
Reply
Armash Armash
Haven’t been trained as a retail trader, i don’t see “support resistance”😂
Reply
@Armash, You just use patterns?
Reply
Armash Charlieab94
@Charlieab94, breakouts into “SUPPLY AND DEMAND” levels which are places where banks buy and sell, spotting those levels allows you to know if there is gonna be a fakeout
Reply
I thibk it will continue up for the double top
+1 Reply
@Georgeyr, Good analysis, it might happen for sure
Reply
good idea.
+1 Reply
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