XAUUSD- Bearish Momentum with a breakout and retest!
-Very good sell opportunity for gold as we could potentially see a breakout of the demand zone.
-Price could retrace back to the demand turned supply zone and bears could take control to the downside.
-The downward trend line could be an excellent entry as price as already retraced around the 23.6% level and from the trend line.
-50 EMA is above price which indicates bearish signals.
-Good opportunity to sell of the trend line and looking to enter at a strong bearish candle.
-Or wait for price to breakout the demand zone and wait for retracement to enter the trade.
Please leave a like and comment down below your opinion/ideas for gold!
Have a good trading week!
-Price could retrace back to the demand turned supply zone and bears could take control to the downside.
-The downward trend line could be an excellent entry as price as already retraced around the 23.6% level and from the trend line.
-50 EMA is above price which indicates bearish signals.
-Good opportunity to sell of the trend line and looking to enter at a strong bearish candle.
-Or wait for price to breakout the demand zone and wait for retracement to enter the trade.
Please leave a like and comment down below your opinion/ideas for gold!
Have a good trading week!