Hello Traders and everyone, I AM HADI KARAALI, KNOWN AS SNIPERS_FX
If you like the idea, do not forget to support with a like and follow.
XAUUSD, as we can see from daily time frame price is clearly overall bearish
However, price now is approaching massive and strong area where we have 1700 acting as resistance after a long time ! ,
and price is trading from a long term perspective bearish inside this channel
So for now what !
For now and as we are approaching this strong area we will be searching for trend following sell setups
Trendline break, Double top, or any bearish reversal pattern
until that happens we are bullish from a short term perspective and we can still dive more before reversal
or- price can break our resistance zone to become a support then we will be searching for more new long on the retest !
and as usual follow your trading plan and manage your risk.
Be patient and good luck!
If you like the idea, do not forget to support with a like and follow.
XAUUSD, as we can see from daily time frame price is clearly overall bearish
However, price now is approaching massive and strong area where we have 1700 acting as resistance after a long time ! ,
and price is trading from a long term perspective bearish inside this channel
So for now what !
For now and as we are approaching this strong area we will be searching for trend following sell setups
Trendline break, Double top, or any bearish reversal pattern
until that happens we are bullish from a short term perspective and we can still dive more before reversal
or- price can break our resistance zone to become a support then we will be searching for more new long on the retest !
and as usual follow your trading plan and manage your risk.
Be patient and good luck!