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XAUUSD (long term) - Sell to support line, buy to resistance

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Guld / USA-dollar (FX:XAUUSD)  
Chris4XTrading Uppdaterad   
FX:XAUUSD   Guld / USA-dollar
Trend Analysis Gold XAUUSD short longterm
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trendanalysis gold xauusd short longterm
GOLD has a tendency to range. The overall trend is upwards. In order to normalize the price back down, while moving upwards overall, XAUUSD has to move in a bearish direction to the bottom of the channel before resuming it's upward movement. Sell to 1266.00 region, wait for confirmation of the reversal and then buy long term up to the next resistance, using Fib lines as retracement guides.
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Kommentera:
Bull Trap activated as soon as US market opened.
Kommentera:
Bearish price action confirmed. Beware of large retracements and pull-backs.
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