Gold - Sell Opportunity in Bullish Market

FX:XAUUSD   Gold Spot / U.S. Dollar
The price reached the resistance zone formed by SMA100 and SMA200. We got a reversal candlestick pattern. RSI is in the overbought zone. MACD lines support the upward movement, but histogram starts falling. These signals tell us about possible reversal from the resistance zone and as a result, we have a new sell opportunity. Entry level should be below the low of the signal candle with stop orders above the high of the signal candle. The market can correct the upward movement and fall to 1300.00 support level . This zone can be used for fixing potential profit.

If the price breaks the resistance zone and moves above 1312.00 level, this trading idea won't be workable. We will need to wait for new signals.
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Lavrov, I do like your Gold posts cause I trade Gold a lot. Man, you were precise and exact on this suggestion, I failed to follow and it really went down. Congrats, I'd ask for the buy levels (1300 I would assume), but now I see your next post, and it really broke support. Nice! Keep doing it
+3 Reply
Please take a look at our idea and let us know what you think!
Good work!
DLavrov CryptoEngineering
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