Multi Timeframe Analysis
Hint: Look only for sell setups
Recommendation:
Price is woefully overbought on the daily timeframe . The 21 period daily RSI flirts with the 70 levels and hedge funds must commence profit taking on previous longs close to the clear order block at the 78.6% fibonacci levels.
Price will fall to this level prior to further potential upside. Be wary, that gold can fall deeper to 1770 due to DXY's potential upside surge.
Don't be caught off-guard. Break XAUUSD at the knees with a sell stop order below current market structure and take the surge down.
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
Hint: Look only for sell setups
Recommendation:
Price is woefully overbought on the daily timeframe . The 21 period daily RSI flirts with the 70 levels and hedge funds must commence profit taking on previous longs close to the clear order block at the 78.6% fibonacci levels.
Price will fall to this level prior to further potential upside. Be wary, that gold can fall deeper to 1770 due to DXY's potential upside surge.
Don't be caught off-guard. Break XAUUSD at the knees with a sell stop order below current market structure and take the surge down.
Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.