Gold- 1850-1855 zone is key
After the aggressive drop from 1960 high and the low from 1850, Gold continued its descent with the price contained in a descending channel.
On Friday XauUsd dropped under support, but bulls quickly took control and the price reversed to 1840 leaving a Pin Bar on our chart(daily).
Regardless, the trend remains bearish and it will stay this way as long as the 1850-1855 zone is intact.
I still expect 1800 to be tested and although my trade is in a drawdown of 70 pips at this moment I will keep it open.
On Friday XauUsd dropped under support, but bulls quickly took control and the price reversed to 1840 leaving a Pin Bar on our chart(daily).
Regardless, the trend remains bearish and it will stay this way as long as the 1850-1855 zone is intact.
I still expect 1800 to be tested and although my trade is in a drawdown of 70 pips at this moment I will keep it open.
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