MAKE OR BREAK ZONE FOR XAUUSD

Dear Trader

Still keeping an eye on Gold's daily chart and looking at it from another perspective. This metal to me is now at a make-or-break zone a daily closure below the yellow zone will mean a sell continuation from me and would be looking to sell from 1909.

A daily closure above 1905 may confirm a bullish retracement/reversal to the 1947 - 1953 zone.

Comment:

An we finally broke the yellow Zone. What a strong bearish confirmation on the daily. However, we expect reasonable retracement before further downtrend. We may be looking at 1863 -1869 next but patience is required. if we break 1909 and close above it, then we may need to be careful about bullish continuation

Comment:

I meant to say if we break and close above 1909, we may need to be careful about bearish continuation.

Comment:

Gold woes continues as we are already seeing the metal trading below 1863 Zone as as predicted, if this continues. 1951/1933 & 1796 are already knocking but will let price action dictate as we proceed.

Comment:

Gold Touched 1851 as predicted. Let's see if 1833 is next after which we will expect 1796. Nice selling week