XAU/USD rally stops at the channel resistance,sell set-up update
Hello traders, in my weekend analysis, I recommended selling Gold@1840-1850
with SL above 1860 and TP at 1800. So, if you followed the previous signal, you are likely
to have made good profit because XAU/USD dropped to 1817 yesterday.
Based on the long-term picture, the price is currently still unable to break the long-term
channel resistance.
So, selling the rallies with 1780 as TP is a good idea. I would continue to look for
new sells between 1835-1845 with SL above 1860 and TP at 1780.
with SL above 1860 and TP at 1800. So, if you followed the previous signal, you are likely
to have made good profit because XAU/USD dropped to 1817 yesterday.
Based on the long-term picture, the price is currently still unable to break the long-term
channel resistance.
So, selling the rallies with 1780 as TP is a good idea. I would continue to look for
new sells between 1835-1845 with SL above 1860 and TP at 1780.
