XAUUSD: Aiming lower, correcting its bubble
Gold quickly turned its 4H time-frame neutral correcting the previous overbought state (RSI = 45.888, MACD = 17.800, ADX = 44.367). It is already on the 0.382 Fibonacci level, approaching the 4H MA50, but the true Support lies on the 1D MA50, which is also where the 0.618 Fibonacci level is.
From an RSI perspective, we can't buy before the 4H RSI gets oversold inside the S1 Zone and on the longer term before the 1D RSI does so. For now we are short, TP = 1,890.
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From an RSI perspective, we can't buy before the 4H RSI gets oversold inside the S1 Zone and on the longer term before the 1D RSI does so. For now we are short, TP = 1,890.
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## Comments and likes are greatly appreciated. ##
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