XAU/USD Analysis: Potential Short Opportunity Ahead
Traders,
Here's a breakdown of the current situation:
Daily Chart: Despite a bullish channel, recent candles show signs of weakness, warranting caution.
4-Hour Chart: The trendline has been breached, and a reversal to this broken level is underway, indicating a potential shift in momentum.
Intraday: A pivotal point coincides with previous significant zones, providing an opportune moment for short positions.
Consider initiating short positions either immediately or after confirmation signals.
Best regards,
Here's a breakdown of the current situation:
Daily Chart: Despite a bullish channel, recent candles show signs of weakness, warranting caution.
4-Hour Chart: The trendline has been breached, and a reversal to this broken level is underway, indicating a potential shift in momentum.
Intraday: A pivotal point coincides with previous significant zones, providing an opportune moment for short positions.
Consider initiating short positions either immediately or after confirmation signals.
Best regards,
Comment:
Due to current geopolitical situation of the world, opening short positions are a bit risky for gold. So risk less than normal in this case.
Comment:
Still Active
Trade closed: target reached: