XAUUSD making Lower-Lows and Many resistance on 30M and 1HR time
XAUUSD making Lower-lows which is a good opportunity to sell on every raise.
30M time Frame
1st resistance is on 2157, which is a good entry point for Sell
2nd Resistance is on 2160,
3rd Resistance is on 2164, this is a 200SMA resistance and pretty hard to break and good entry point.
1HR time Frame
On 1HR time frame it has a strong resistance at 2161 and a good entry for sales
4HR Time frame
by looking at 4HR time frame it shows a bullish engulfing candle and chances that it may reach around 2164 but still my analysis gives me indication of opening sell position at around 2160 to 2164.
W Time frame
On Weekly timeframe it has a strong full-body bearish Candle, which shows that sells may continue, it may go high upto 2164 to 2174 but high chances it may go down.
FOMC news is there which keeps a strong impact on market and specially Pairs related to USD and may affect XAUUSD as well, so anything may happen based on news results.
This is my observation, keep your trades according to your own strategy. I follow SMA and that's where most of my trades got it profit.
30M time Frame
1st resistance is on 2157, which is a good entry point for Sell
2nd Resistance is on 2160,
3rd Resistance is on 2164, this is a 200SMA resistance and pretty hard to break and good entry point.
1HR time Frame
On 1HR time frame it has a strong resistance at 2161 and a good entry for sales
4HR Time frame
by looking at 4HR time frame it shows a bullish engulfing candle and chances that it may reach around 2164 but still my analysis gives me indication of opening sell position at around 2160 to 2164.
W Time frame
On Weekly timeframe it has a strong full-body bearish Candle, which shows that sells may continue, it may go high upto 2164 to 2174 but high chances it may go down.
FOMC news is there which keeps a strong impact on market and specially Pairs related to USD and may affect XAUUSD as well, so anything may happen based on news results.
This is my observation, keep your trades according to your own strategy. I follow SMA and that's where most of my trades got it profit.