XAUUSD 1D ANALYSIS
We can observe several key points in the daily graph:
* Gold is at 61.80% Fib Retracement.
* Gold rejected for two consecutive days EMA 50 and the resistance in 2031 price.
* Gold closed with a Doji candle.
All these points are, for me, confirmations to start looking for sell positions. Mostly for the Doji candle, which in general means indecision but usually in Gold means change of trend. If we observe the graph almost every time this candle is shown the trend changes.
I think Gold will reach 2030 tomorrow before start going down, that will give us a good entry for sell, but...
Important!! Tomorrow is going to be a crazy day, big news with high impact in the market are coming. I'm not in any position, but even that I'm expecting a huge drop, I will wait to see how the market reacts after the news to get a good entry. I suggest you do the same!
* Gold is at 61.80% Fib Retracement.
* Gold rejected for two consecutive days EMA 50 and the resistance in 2031 price.
* Gold closed with a Doji candle.
All these points are, for me, confirmations to start looking for sell positions. Mostly for the Doji candle, which in general means indecision but usually in Gold means change of trend. If we observe the graph almost every time this candle is shown the trend changes.
I think Gold will reach 2030 tomorrow before start going down, that will give us a good entry for sell, but...
Important!! Tomorrow is going to be a crazy day, big news with high impact in the market are coming. I'm not in any position, but even that I'm expecting a huge drop, I will wait to see how the market reacts after the news to get a good entry. I suggest you do the same!
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