Benjamin99
Short

XAUUSD and Fibonacci

FX:XAUUSD   Gold Spot / U.S. Dollar
As you can see guys, to use Fibonacci levels is the best idea to analyze this situation, because the price is always turns at the Fibo levels.
There is a resistance line at 1325,09 but there is a stronger resistance line at 1327,86. The price is in a triangle now. If the chart can not breaks the resistance line at 1325,09 we have to open short positions. When the price breaks down from the triangle, we can open more short positions.(we can see lower highs on the chart so i think this is a signal for the upcoming downtrend)
This is my analysis for today
Have a nice sunday for all of you guys!
Trade closed: target reached: Close this because of the resistence line at 1315,70
hi see my channel in telegram about forex https://t.me/joinchat/AAAAAEcJvQOBaFuSnLf4ug
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