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.
- 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
- 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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