TraderAvDM
Short

XAUUSD at Multi-week Resistance: Possible BIG SELL

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is knocking at a very STRONG RESISTANCE Zone . This resistance zone as held for the last 3 years. So, there is a high probability that Gold can fall from this area.
In the 4H, 1D timeframe, we can see BEARISH DIVERGENCE on the RSI as well.
Hence, traders can look for SELL between 1353-1360 area with SL above 1365.
TPs can be set at 1340, 1331 and 1310 respectively.
Comment: Price reversing nicely from the sell zone. Holding Sell Trades with 1340 as first TP
Comment: First Target Reached. Bagged 160 pips from the top
Trade closed: stop reached
Comment: Price broke through the Resistance
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good eye, good eye !!! went 1393, 1384
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@Rod64, It did. But I managed to get a significant chunk of my target. It was actually published last week.
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It's held longer than the last three years. Try since 2013. A lot of profit taking / wick making via mid Tokyo sesh June 19
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Returning the favor AvDM!

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very like minded! thanks for sharing! #followingyou =)
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@ZenMode, Thanks buddy. Looking forward to reading your future ideas :)
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Interesting post. Lets wait if the price breaks above or below the Res or Supp.
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TraderAvDM Bullandbeartrading
@Bullandbeartrading, Yeah already took partial profit. Let's see what happens next week
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