XAUUSD - POSSIBLE LONG TERM SELL - +2000pips / FOR NOW, +200PIP
XAUUSD - This is a apair that has been up and down all week, well actually, all YEAR!
We have seen this 1360 level be hit before, then dramatically drop back down to around 1320-1340.
Data and Analysis:
- We're back at resistance (1360-1363)
- Support is shown clearly, this support has been apparent many times and must be followed.
- Channel (red) can show last time we hit this peak, we dropped back down dramatically within a 6-month period
- Trade the trend? Not here my friends... Support and resistance!
XAUUSD has been a tricky one, making or breaking traders. But simply follow the support and resistance and you will be successful. Attach tight SL's and you know what? if the Sl is hit, set it again with same ratio!
We have seen this 1360 level be hit before, then dramatically drop back down to around 1320-1340.
Data and Analysis:
- We're back at resistance (1360-1363)
- Support is shown clearly, this support has been apparent many times and must be followed.
- Channel (red) can show last time we hit this peak, we dropped back down dramatically within a 6-month period
- Trade the trend? Not here my friends... Support and resistance!
XAUUSD has been a tricky one, making or breaking traders. But simply follow the support and resistance and you will be successful. Attach tight SL's and you know what? if the Sl is hit, set it again with same ratio!