XAUUSD Overbought, requires a technical relief.
Gold is trading inside a Channel Up since the strong rebound on the MA200 (1w).
The MA100 (1h) has been basically supporting since its beginning and even though Resistance (1) broke, the sideways trading on the RSI (1h) hits to a possible short term pull back.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1920 (MA100 1h and bottom of Channel Up).
Tips:
1. The RSI (1h) is inside a Triangle pattern. The direction to which that breaks, can be an indication of the next trend on the 4h time frame.
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Notes:
Past trading plan:
The MA100 (1h) has been basically supporting since its beginning and even though Resistance (1) broke, the sideways trading on the RSI (1h) hits to a possible short term pull back.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1920 (MA100 1h and bottom of Channel Up).
Tips:
1. The RSI (1h) is inside a Triangle pattern. The direction to which that breaks, can be an indication of the next trend on the 4h time frame.
Please like, follow and comment!!
Notes:
Past trading plan:
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