On last Sunday, I mentioned that Gold is likely to reach towards 1288 area where it will face STRONG RESISTANCE. As you can see, Gold reached 1288 area and REVERSED.
1288 area coincides with the TREND LINE RESISTANCE and also the RECENT HIGH
For this week, it's important to watch the PRICE ACTION at 1288-1292 area which I feel will be a VERY STRONG HURDLE for XAUUSD.
So, traders can SELL at 1288-1292 area depending on BEARISH PRICE ACTION with SL at 1298.
TPs can be set at 1278 and 1266 respectively.
1288 area coincides with the TREND LINE RESISTANCE and also the RECENT HIGH
For this week, it's important to watch the PRICE ACTION at 1288-1292 area which I feel will be a VERY STRONG HURDLE for XAUUSD.
So, traders can SELL at 1288-1292 area depending on BEARISH PRICE ACTION with SL at 1298.
TPs can be set at 1278 and 1266 respectively.
Trade active:
First Sell active at 1288