ANALYSIS OF XAUUSD ON H1 TIMEFRAME 18/12/2023
- XAUUSD has a short-term downtrend with the potential to form a descending price channel.
- Consider selling in line with the short-term trend, waiting for a rebound around 203x to initiate a Sell order if there is selling pressure at this level.
- Sell in the market when there is a confirmation of a Breakout below the 2015 support level (H1 closing below 2015).
- Consider selling in line with the short-term trend, waiting for a rebound around 203x to initiate a Sell order if there is selling pressure at this level.
- Sell in the market when there is a confirmation of a Breakout below the 2015 support level (H1 closing below 2015).