GOLD (XAU/USD) - Potential Downside Looming....
Price is now below the 4 Hour 50ema since the beginning of August and failing to make new higher high's.
With buying momentum fading, I will be waiting for price to print a new lower low and close below support of 1494.50 (full 4 hour body closure) to confirm the new direction.
Safest entry can be taken upon a retest of the neckline (support turned resistance @ 1494.50).
We know from experience that Gold has long periods of consolidation followed by high momentum impulsive moves.
Downside targets are 1452.75 and 1400.00.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
With buying momentum fading, I will be waiting for price to print a new lower low and close below support of 1494.50 (full 4 hour body closure) to confirm the new direction.
Safest entry can be taken upon a retest of the neckline (support turned resistance @ 1494.50).
We know from experience that Gold has long periods of consolidation followed by high momentum impulsive moves.
Downside targets are 1452.75 and 1400.00.
Instagram: thetraveltrader (instagram.com/thetraveltrader)
Twitter: Fx_ollie (twitter.com/fx_ollie)
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。