InvestingScope
Short

XAUUSD: Sell opportunity on the 4H MA40.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold is trading within a 1D Channel Up since the February 24th High ( RSI = 62.180, MACD = 21.590, ADX = 52.997, Highs/Lows = 1.9297). On the last leg towards the Higher Low trend line , the price found support initially on the 4H MA50 (blue line) and only when it broke it got continuation towards the 4H MA200 (where it made the Higher Low slightly below).

We will use this as a break out point and sell once the 4H breaks. Our Target Zone is 1,600 - 1,580.


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Comments

will be nice to see the development, my view
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