Shorting Gold XAAUSD
I am looking to short gold.
Originally price found support at the monthly/weekly support/demand zone.
Price ultimately formed a double bottom.
I was expecting price to meet resistance at the neck line (which is also the daily resistance level), and it has.
Since price fail to break through the neckline, I am expecting price to retrace to the 50.0-61.8 fib level, where it will then gather more momentum then look to make another bullish attempt.
Originally price found support at the monthly/weekly support/demand zone.
Price ultimately formed a double bottom.
I was expecting price to meet resistance at the neck line (which is also the daily resistance level), and it has.
Since price fail to break through the neckline, I am expecting price to retrace to the 50.0-61.8 fib level, where it will then gather more momentum then look to make another bullish attempt.
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