The Opportunity to Short Gold This Week XAUUSD

Looking at an upcoming short opportunity on Gold XAUUSD as we are nearing the previous breakdown wall which is now resistance and will likely act as a heavy barrier and continued pullback off the retest.

Daily Chart

  • retesting 13/20 ema resistance levels now
  • heavy resistance range 1850 – 1863
  • 50ma trend is bearish
  • next heavy support level 1750 +/-

4 Hour Chart

  • 13/20 Ema trends continue to act as strong support as we potentially head into the resistance range 1850-1860

Weekly Chart

  • 50ma acted as a massive dip buy now 2x now to continue the bull trend higher. does this mean we will continue to all time highs? Maybe..
  • 2k is a major psychological resistance area + we now have a lower high to now form a descending resistance line to act as an entry point short. The first bounce off the 50ma did not form this bearish pattern

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