XAUUSD Potential Bearish Cross. Short-term trades.

3 thg 10, 2022

Gold (XAUUSD) has turned sideways after breaking above the 4H MA50 (blue trend-line), always within the Bearish Megaphone pattern that started after the August 10 High. We have a potential Sell Signal emerging as the 4H MACD is close to forming a Bearish Cross. As this chart shows, every such Bearish Cross has been a Sell Opportunity since August at least.

If you are a short-term traders, it would be best perhaps to engage upon confirmation and that would be if the price breaks below the 4H MA50. In that case, we can target the 1,641.10 Low of September 29 and the 1614.50 Support in extension.

If however the price breaks above the 1688.50 Resistance (previous High), it would be an upwards breach of the Bearish Megaphone and most likely the 4H MA200 (orange trend-line) at the time, in which case we will set the 1D MA50 (red trend-line) as Target.




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