Currently, we have three TAs supporting the idea of holding short positions:
1- Rising trend channel support break and retest 2- H4 cloud break and retest 3- Demand zone break and retest 4- Diverging RSI is a further evidence of a possible big move down!
All of these confluences happening between the range 45-55!
PA suggests that we hold short till price breaks out of 51-55, Best of luck and happy trading!
Comment
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We are stuck at minor supporting zone for now breaking here we should see our target region
Trade closed: target reached
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Thank God we hit our target, closing trades and taking profit now :-) stay tuned for new update and a new idea about XAUUSD!