aN00bis_FX

XAUUSD - Will Price Continue Moving Downward?

FX:XAUUSD   Gold Spot / U.S. Dollar
As stated in the graph above, price has managed break free from the channel. Price tried to enter the channel back (retest) and yet failed to do so.

As you can see from the graph above (based from the price action and Kumo cloud), there's a clear support @ ~1191.00.

In my opinion, price might consolidate for awhile. I will wait for the price to move below the Kumo Cloud and break the 1191.00 support level and then look for a sell signal from there.