Bearish price action at trendline resistance,further drop likely
Hello traders, in my previous idea, I advised selling Gold@1895-1910
and then entered sell at 1902 level. So, if you followed my idea and updates, you
are already in very good profit. (Previous idea attached below for your reference)
Currently, Gold is still struggling to break above the resistance. In fact, multiple bearish
daily candles have formed in the resistance area. Along with that, US dollar is gradually
seeing a flow of bids which makes XAU/USD the right contender for a pullback.
Based on the bearish price action, traders who sold above 1900 with me can continue to
hold their sells. Fresh sells can also be executed by traders who missed my previous sell call
if price reaches 1890-1895 level again.
Targets for the sell trades could be set at 1860 initially and finally at 1824.
and then entered sell at 1902 level. So, if you followed my idea and updates, you
are already in very good profit. (Previous idea attached below for your reference)
Currently, Gold is still struggling to break above the resistance. In fact, multiple bearish
daily candles have formed in the resistance area. Along with that, US dollar is gradually
seeing a flow of bids which makes XAU/USD the right contender for a pullback.
Based on the bearish price action, traders who sold above 1900 with me can continue to
hold their sells. Fresh sells can also be executed by traders who missed my previous sell call
if price reaches 1890-1895 level again.
Targets for the sell trades could be set at 1860 initially and finally at 1824.
