GOLD - Price can make a small movement down and then bounce up
Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
When price entered to rising channel, it in a short time reached $1975 level, which coincided with support area and broke it.
Then Gold made retest and after this it made impulse up to resistance line of channel, but soon made little correction.
After correction, XAU bounced up to resistance line of wedge, thereby exiting from channel and breaking $2065 level.
But soon, price bounced of resistance line and made downward impulse to support line, breaking $2065
In wedge, price made fake breakout of this level and after this, it fell to support line, where Gold trades now.
Possibly, price can fall lower than support line and bounce up to $2085 resistance line, breaking resistance level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
When price entered to rising channel, it in a short time reached $1975 level, which coincided with support area and broke it.
Then Gold made retest and after this it made impulse up to resistance line of channel, but soon made little correction.
After correction, XAU bounced up to resistance line of wedge, thereby exiting from channel and breaking $2065 level.
But soon, price bounced of resistance line and made downward impulse to support line, breaking $2065
In wedge, price made fake breakout of this level and after this, it fell to support line, where Gold trades now.
Possibly, price can fall lower than support line and bounce up to $2085 resistance line, breaking resistance level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️