08-21-22 XAUUSD

Support Zone
1729-1730
Resistance Zone
1759-1760
1767-1768

For Longing Strategies
Within 1-2 days, price trending downwards with important zone for major rebound = 1729-1730. Selling volume is still high, not a good time to take a position against the trend

For Shorting strategies
2h Stochastic and 4h Stochastic are still subject to a rebound to the overbought region, shorting here may have downside gains of 15-20 points but the risk of the movement swinging to the upside is also high, thus RR ratio is not in our favor. A better alternative is for 2h and 4h Stochastic to swing upwards with the price being around the 1759-1760 or 1767-1768 region for better shorting opportunities