OANDA:XAUUSD is forming a retest of 1959.8 from the opening of the session, but the market is not ready yet. A rebound is being formed to retest the resistance area
A review on the D1 timeframe gives us several indications that the market is still dominated by the bearish half. A global false breakout has been formed. Locally, the price is in consolidation between 1959.8 - 1970.2. The price is steamed up for a possible retest of the resistance area, since the uptrend was broken earlier, sell signals are forming on D1, the resistance area may push the price down further. It is acceptable to buy the insturment on a breakout of 1970.2, a false breakout of 1970.2, 1967 will form an entry point for selling.
Support levels: 1959.8 Resistance levels: 1967, 1970.2 Situation is not easy. The price is heading for resistance (retest) after the trend break. Most likely the price will continue to fall from the resistance, but it is necessary to monitor the behavior of the price near this area.
I agree with you, but the market will have the last word
Simon_says
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Amazing work! Congrats
ArmanShabanTrading
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learned a lot
GeorgeOnTV
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Interesting take on gold RLinda
mrsmith808
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Retail is not a good place some r funny to read some have a future. 1900 n lower can’t say we’re as this is my career …… u post a lot use to help many 10 years ago no can explain y u don’t need to u got some knowledge basics grow Traders do post to deem there right just show ur bank statement as I do lol it’s a good feeling when someone pisses u off …. There isn’t full timers here learners growers then the ones at the end switching from retail those ones listen too n usally r the assholes mean ones The nice ones r learning lol. U will do fine as I seen ur past post but y not hold longer learn don’t jump. Be a professional don’t be a retail jumper
KronFX
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Thank you for helping us to be profitable through your work