timmynorin
Short

XAUUSD (4H) Potential short opportunity

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Looking at the 4 hour chart we have found resistance at historically strong support and resistance zone. Price did not manage to close above 1234.00 despite several attempts. Right above us we find a 0.618 fibonacci retracement .

Looking down at the hourly we also see a 2618, a double top (which also can be seen on 4h) followed by a 0.618 retracement after breaking to the downside, passing the "V" point of the double top .

I take this as a first, of two, possible entries to sell. Target 1220.00

Lets see how we do
Trade closed: stop reached: First entry, unsuccessful. I will monitor this since we are now in the second entry zone. If I get signals here, I will enter a new short position, published on a new chart.
Hi, I'm looking for an entry around the 1248 level - Good Luck
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