XAUUSD: Sell opportunity if the Channel breaks.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is trading within the Bullish Leg (black channel) of a Channel Up pattern. This bullish leg is essentially a Channel Up on the 4H chart of its own ( RSI = 67.955, MACD = 21.920, ADX = 58.206) and until it breaks we can't consider selling and of course neither buying as we are on a Higher High.

Technically once this Channel breaks into the green Triangle area we can consider selling first towards the 1,640 Support and then within the 0.618 - 0.786 Fibonacci. This is the mirror sequence of the previous Bearish leg as you see on the chart.

** If you like our free content follow our profile ( to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out