FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
After looking at the XAUUSD graph we see that it hits an area of resistance every time it gets to the top resistance level . After it hits this point there has been a huge sell off down to the middle support level . We saw that it hit the resistance level and since then there has been a sell off. I believe that it still has potential to go down further before doing a reversal and hitting new highs.

This is my first post and analysis and it would be great to see what you guys think

Comments

it just hit 1950
+1 Reply
Just thought that I should let you know that this trade hit my TP for a 33 pip move
+1 Reply
I like your work! Thanks for such clear charts!
Reply
is that now going to pull back to broken tadeline?
Reply
@kittoca55, I think its going to pull back to the previous support level and fail to break above and then price shoukd head back down to about 1822
Reply