ForecastCity

Don't miss the great sell opportunity in XAUUSD

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1731.0). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 27.

Take Profits:
TP1= @ 1711.43
TP2= @ 1691.60
TP3= @ 1670.30

SL: Break Above R2
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Comments

Sir,
Still it is on sell side, can we expect TP2 & TP3 as well?
Please advise.
Thanks
Piyush
+2 Reply
ForecastCity Piyush_Krishna
@Piyush_Krishna, please read about the trend hunter strategy here: http://www.forecastcity.com/en/trend-hunter
Reply
Does the descending channel on h4 mean nothing to you?
+2 Reply
ForecastCity Franklin_C
@Franklin_C, Thanks for your comment.
Reply
Great analysis
+2 Reply
@Ubani, Thanks for your comment
Reply
Thank you for your insight.
+2 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, you're welcome.
+1 Reply
Love the clean analysis, very nice
+2 Reply
ForecastCity DenizKilicDeniz
+1 Reply
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