XAUUSD Pirce broke out of the channel up to the downside.

From identifying the Zone (Rectangle) to be a key area, we have seen a channel up trading above the support area and a successful break below which approached the support zone. From studying this chart we are expecting the price to retest the trendline currently acting as resistance with spinning top and a strong bearish candle or a Bearish Engulfing at the trend-line resistance area. hopefully if we can see such, it confirms the probability of selling.

Kommentera:

Gold has been playing as expected by retesting the trend-line channel bottom acting as RESISTANCE with rejections, anticipating more sell off to break below key Support with a retest and a continuation.

Kommentera:

Gold playing out as expected.. we need more momentum from Sellers....

Order avbruten:

Idea was invalidated.