Hi guys,
Take a look at the chart, if you notice, whenever XAUUSD reach the 1x50 levels this commodity pulled back deeply.
Firstly, it reached 1450 then it pulled back to 1400 before climbing to 1500.
Then, when it reached 1550 it dropped sharply to 1450 before climbing to 1600.
This time, it reached 1650 and some long-tailed candle is forming signals that it will probably pull back soon.
If the laws continue to be true, it will test the price of 1600 or 1550 to shake out the weak bull before climbing again.
Let's wait and see the result next week.
Have fun trading.
Take a look at the chart, if you notice, whenever XAUUSD reach the 1x50 levels this commodity pulled back deeply.
Firstly, it reached 1450 then it pulled back to 1400 before climbing to 1500.
Then, when it reached 1550 it dropped sharply to 1450 before climbing to 1600.
This time, it reached 1650 and some long-tailed candle is forming signals that it will probably pull back soon.
If the laws continue to be true, it will test the price of 1600 or 1550 to shake out the weak bull before climbing again.
Let's wait and see the result next week.
Have fun trading.
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