XAUUSD
This week this pair went up to test 1600.00 price level and failed to break 1580.00 resistance level on a daily chart. Forming a bearish candle.
Giving us a bearish trend sign. To look for a Sell trade setup.
Price broke down 1557.54 support level and now is retesting it as a resistance forming a flag. Which if it fails to break. We will be looking to short it from where it is right now to 1515.99 price level or even lower if a breakout occurs.
Hence otherwise if this pair breakout this current 1557.54 level. We will be heading to 1580.21 price level to form a Head and Shoulder. Also if it continue to break 1580.21 price level. We will be heading to 1600.00 to form a double top. Before it thinks to go lower.
Happy Trading!
Trade What You See Not What You Think.
Don't forget to Like and Follow.
Giving us a bearish trend sign. To look for a Sell trade setup.
Price broke down 1557.54 support level and now is retesting it as a resistance forming a flag. Which if it fails to break. We will be looking to short it from where it is right now to 1515.99 price level or even lower if a breakout occurs.
Hence otherwise if this pair breakout this current 1557.54 level. We will be heading to 1580.21 price level to form a Head and Shoulder. Also if it continue to break 1580.21 price level. We will be heading to 1600.00 to form a double top. Before it thinks to go lower.
Happy Trading!
Trade What You See Not What You Think.
Don't forget to Like and Follow.
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