Daily Analysis XAUUSD 23 December 2019
For the entire week, XAUUSD has been consolidating. The sellers have been showing signs of weakness on the 20th December, on the 23rd December, there is a high chance that XAUUSD might break the tight consolidation (orange triangle). and get rejected at 1482.827
I generally do not trade XAUUSD on a higher timeframe and most analysis is done on a daily basis meant for scalping. I am currently on "BUY" and will watch what happens when it reaches the top of the triangle. If prices break, we will hold the trade right to 1482.827 and wait for a candle confirmation before we sell again.
For the entire week, XAUUSD has been consolidating. The sellers have been showing signs of weakness on the 20th December, on the 23rd December, there is a high chance that XAUUSD might break the tight consolidation (orange triangle). and get rejected at 1482.827
I generally do not trade XAUUSD on a higher timeframe and most analysis is done on a daily basis meant for scalping. I am currently on "BUY" and will watch what happens when it reaches the top of the triangle. If prices break, we will hold the trade right to 1482.827 and wait for a candle confirmation before we sell again.