Gold – XAU/USD Long-Term Trend: Bullish
Key Resistance Levels: 1848.50, 1849.90, 1852.15
Key Support Levels: 1844.00, 1842.60, 1840.35
Gold is trading bullish at 1,863 area, having entered into the overbought zone. The precious metal is now looking to break lower in order to complete Fibonacci retracement. On the daily timeframe, the violation of 1,863 support level can extend selling trend until the target level of 1,852 and 1,841 level.
XAU/USD Medium-Term Trend: Neutral
On the hourly timeframe, the yellow metal gold has violated an upward channel that’s suggesting strong odds of selling. Let’s take a sell trade around 1,862 level to target 1,855 and 1,851 level today.
Sell Order @ 1,862
TP 1 @ 1,855
TP 2 @ 1,851
Stop Loss @ 1,865
Trade Safely 🙂
Please try to include the timeframe for beginners
Hey the market is @1857 rn so should i place a sell limit af 1862 or sell at market price.thanks ali
It’s better to wait now, as the market is changing fundamentals and it may trade differently.
Hey ali Should i sell right now or when proce goes back up to 1862