XAUUSD Short based on Linear Regression, EMA and RSI
I have just shorted XAUUSD at 1195.1.
TP at 1186.5 which is coincident with a 1.618 fib extension and in line with longer term trend.
RSI is sloping in bearish manner and below the EMA applied to the RSI.
Price action is above the 50 EMA however seems to have bounced off the 200 EMA to continue longer-term downward trend.
SL set at 1196.4 in case I'm wrong
TP at 1186.5 which is coincident with a 1.618 fib extension and in line with longer term trend.
RSI is sloping in bearish manner and below the EMA applied to the RSI.
Price action is above the 50 EMA however seems to have bounced off the 200 EMA to continue longer-term downward trend.
SL set at 1196.4 in case I'm wrong
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.