XAUUSD, in Daily Tech Analysis Training Diagram look like this:
The XAUUSD pair today declines almost 1% under the Tenkan Sen. From 28.06.2013 until now the pair has reached the 1243.24 support line (1st bright blue) almost three times.
So the first think is that XAUUSD could find support at 1243. If it reacts it will have double bottoming pattern ahead. Watch the intersection of Gann Fan (1/1) and the support line.
RSI is near oversold levels..
There is no special candlestick pattern nor a general pattern either.
If you look at the large image you will see the 1190 strong support that is the bottom of a large descending triangle.
So for the moment I think short for 1243 and then long, if the pair reacts from there (support line). Otherwise keep it short .
The XAUUSD pair today declines almost 1% under the Tenkan Sen. From 28.06.2013 until now the pair has reached the 1243.24 support line (1st bright blue) almost three times.
So the first think is that XAUUSD could find support at 1243. If it reacts it will have double bottoming pattern ahead. Watch the intersection of Gann Fan (1/1) and the support line.
RSI is near oversold levels..
There is no special candlestick pattern nor a general pattern either.
If you look at the large image you will see the 1190 strong support that is the bottom of a large descending triangle.
So for the moment I think short for 1243 and then long, if the pair reacts from there (support line). Otherwise keep it short .
