XauUsd- Best place to sell for 1:3 R:R

2024年7月26日

Yesterday, XAU/USD continued its descent and dropped to the 2350-2355 support zone without retesting the 2390 broken support, indicating selling pressure.
At this moment, the market is correcting to the upside, which should offer bears better entry prices.
The best zone to sell remains 2390-2400; however, if this zone is not tested, traders should look for lower entry levels in anticipation of a 2350 break.
In the case of a break below 2350, the most obvious level for bears is 2320.

On both weekly and daily charts, the situation looks gloomy, with a strong Pin Bar on the weekly and a Fakey pattern that marks the retest of the broken ascending trendline on the daily.

2024年7月26日

註釋

PCE is mostly within expectation
XauUsd stuck in range
The idea remains unchanged, looking to sell a possible up spike

2024年7月26日

註釋

Closed my XauUsd sell trade with an insignificant 30 pips profit at 2387.
The steady rise through the day makes me question the down continuation and for sure Gold did not come to the resistance zone so quietly for all the fools to sell in this obvious resistance.

2024年7月27日

註釋

Yesterday's daily close is not bearish, more looking pretty bullish with the price exactly under the broken support now resistance