TH-FX

XAUUSD short term sell (update on gold)

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello traders, for an update on this pair what we currently have is a market that has now broken the trend line of this ascending channel, while making the retest of the previous high. What we now want to see from this market before we can be looking for a short is for gold to make a retest of the trendline, previous support now turned resistance then we will be set up for the short opportunity with a better R:R. The 618 fib level is set up for TP1 also a support and resistance zone set for TP2, for a short term sell before more bullish movements.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.