XAUUSD broke the important support level at 1650. It is expected the price will keep go down with the down trend tunnel (Red).
Now the price is doing a correction since touched the 50% Fib retracement level, and the correction is possible completed around 1650, and go down again.
The trading strategy on M15 chart is suggested to place sell limit order around 1648- 1650, stop loss when H1 candle stick break through and closed on the down trend tunnel (around 1655-1665).
Target price will be 1610.
Now the price is doing a correction since touched the 50% Fib retracement level, and the correction is possible completed around 1650, and go down again.
The trading strategy on M15 chart is suggested to place sell limit order around 1648- 1650, stop loss when H1 candle stick break through and closed on the down trend tunnel (around 1655-1665).
Target price will be 1610.
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