Gold / XAUUSD is trading inside a Channel Down pattern since the start of the month.
Today it hit the 1hour MA50 for the first time since Sep 4th and got rejected again.
As long as the price is inside the Channel Down, sell and target 1910 (-0.72% decline).
If it crosses above Fibonacci 0.236, buy and target 1933 (1hour MA200 and Fibonacci 0.5).
Observation 1. Notice the bullish divergence on the 1hour RSI.
Observation 2. All Fibonacci retracement levels are harmonically aligned with the Channel's Lower Highs.
Follow us, like the idea and leave a comment below!!
Today it hit the 1hour MA50 for the first time since Sep 4th and got rejected again.
As long as the price is inside the Channel Down, sell and target 1910 (-0.72% decline).
If it crosses above Fibonacci 0.236, buy and target 1933 (1hour MA200 and Fibonacci 0.5).
Observation 1. Notice the bullish divergence on the 1hour RSI.
Observation 2. All Fibonacci retracement levels are harmonically aligned with the Channel's Lower Highs.
Follow us, like the idea and leave a comment below!!
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon