Price has been following my trend for a while now and it seems like we're going short on Monday but anything could happen after a weekend, keep that in mind.
On my analysis from Friday I predicted that price would go down for some time this week and it seems like that's exactly what is happening but I always have atleast two different setups and this one is saying something else. On an initial look at this chart one might suggest that price will go up but sticking to my first analysis I think price might go down first...
Price has been playing the same game since April 2021 and it looks like we are going to be continuing. Price has been seen bouncing on the support line twice (Yellow 1&2 arrow) and then retesting on the resistance before breaking the support and doing the same thing again.
The purple channel and yellow trendlines are all parallel
Seems as if price has made its...
It seems as if we will be continuing our trip to the downside. Upon resistance, price might try to go up but I think we will be having a bearish situation for a while. Price just bring a 1D support trendline so there might be a retest . Do your own analysis before taking a trade with this chart as a reference. Let's get this Pot o' xauusd.
All roads lead up. Seems like we will be going bullish next week but our channel is a bearish one so we don't take any long trade that will go against our major trend unless it aligns with our analysis and used with proper risk management. Until then we will wait and lookout for any short trading opportunities.
