XAUUSD Trading plan based on break outs
Gold is trading inside a Channel Down since the December 3rd All Time High.
The Lower Lows so far have been almost equal, -3.27% and -3.12%. If this pattern holds the next Lower Low can be -0.15% lower, i.e. -2.97%.
Trading Plan:
1. Sell as long as the price trades inside the Channel Down.
2. Buy if it breaks above.
Targets:
1. 1938 (-3.00%).
2. 2018 (contact with the MA50 (4h)).
Tips:
1. The RSI (4h) is on a Rising Support so far, being much like November 10th. If it holds while the price makes a Lower Low, it will favor more the bullish scenario.
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The Lower Lows so far have been almost equal, -3.27% and -3.12%. If this pattern holds the next Lower Low can be -0.15% lower, i.e. -2.97%.
Trading Plan:
1. Sell as long as the price trades inside the Channel Down.
2. Buy if it breaks above.
Targets:
1. 1938 (-3.00%).
2. 2018 (contact with the MA50 (4h)).
Tips:
1. The RSI (4h) is on a Rising Support so far, being much like November 10th. If it holds while the price makes a Lower Low, it will favor more the bullish scenario.
Please like, follow and comment!!
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Stop gambling with your trades! 🎰
Start being profitable! 💰