Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1779.25). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis: . XAUUSD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 40.
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At this moment I would wait for the candle to close below the trendline.. your linework is on point!
I sold today from 1785 or something but at this level I would be very wary, i closed all positions. this thing is still moving within some channel thats super bullish.. even one little break might be fake..
ForecastCity
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@TigerBabr, Thank you for sharing your insight with us. We appreciate it. 💙🍀
sara-kian-fx
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Wow, perfect analysis.Thanks man.
ForecastCity
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@sara-kian-fx, You're very welcome. Hope you enjoy it
I sold today from 1785 or something but at this level I would be very wary, i closed all positions. this thing is still moving within some channel thats super bullish.. even one little break might be fake..