XAU in Bearish Channel |23 April 2020
In the long term, there's a trendline pullback in forming, which indicates possible retracement. In the short term, we found a bearish channel and price is touching the upper band of the channel, indicating a good time to sell ! We use fibonacci retracement , graphcial levels to find our levels. A bit of fundamentals as well for the trade direction.
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Trade active
Price pulled back to our entry as expected, we are in the trade now .
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Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
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.