Tuesday, October 8, 2024

xauusd sell trade

Gold OANDA:XAUUSD

Trend: The trend appears to be bearish, with the price moving below the $2,650 level2
.

Support Levels: Key support levels to watch are $2,632.10 and $2,6003
. A break below these levels could lead to further downside.

Resistance Levels: The nearest resistance is around $2,670.204
. If the price fails to break above this level, it could reinforce the bearish outlook.

Technical Indicators: The Relative Strength Index (RSI) is showing a downward trend, indicating weakening momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bearish crossover, further supporting the potential for a downward move5
.

Given these factors, it seems likely that XAUUSD could continue its downward trajectory in the near term. However, it's always important to consider other market factors and news that could impact the price

source https://www.tradingview.com/chart/XAUUSD/nEHDF6yR-xauusd-sell-trade/

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Monday, October 7, 2024

XAUUSD. Contrarian Opinion

Gold OANDA:XAUUSD

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Sometime when directions arent clear. Inversing chart could give you a different perspective. Saw inverse cup and handle formed and handle broken. Possible revisit sub 2630 support if broken we could revisit daily fvg around 2615. Not a financial advise, only creating this as my trading journal.

source https://www.tradingview.com/chart/XAUUSD/OW7vNw72-XAUUSD-Contrarian-Opinion/