Analysis for XAUUSD or Gold pairs, is currently forming an uptrend channel in the H4 timeframe. The price has tried many times to the Fibonacci 50 and 61.8 zone but has failed 3 times, in the price action rule the zone that is mostly tried to break tends to be a weak zone and makes it easier to break the next opportunity if the price returns to the zone.
- Entry Price : 1468.49
- Stop Loss : 165 pips
- Take Profit : 410 pips
Trade closed: target reached