Xauusd SellMode

Resistance Level: Identify a key resistance level where the price has previously reversed or shown significant selling pressure. This could be a historical resistance line, Fibonacci retracement level, or a moving average.

Bearish Candlestick Pattern: Look for bearish reversal candlestick patterns at or near the resistance level. Examples include the bearish engulfing pattern, evening star, or shooting star.

Indicators Confirmation:

RSI (Relative Strength Index): If RSI is above 70, it may indicate that the asset is overbought, suggesting a potential reversal.
MACD (Moving Average Convergence Divergence): A bearish crossover where the MACD line crosses below the signal line can confirm selling pressure.
Bollinger Bands: If the price touches or exceeds the upper Bollinger Band, it might signal overbought conditions, which could lead to a pullback.
Trendline Break: If there’s a rising trendline supporting the price, a break below this line could indicate a change in trend, supporting the sell decision.

Volume Analysis: Increased volume on a down day or during the formation of a bearish pattern can further confirm selling interest.

Target and Stop Loss:

Target: Set a profit target based on a previous support level, Fibonacci extension, or measured move technique.
Stop Loss: Place a stop loss just above the recent swing high or above a key resistance level to minimize risk.