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TraderAmin-KZ

XAU/USD Possible Breakdown

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CFD pada Emas ($AS/OZ) (TVC:GOLD)  
TraderAmin-KZ  
TVC:GOLD   CFD pada Emas ($AS/OZ)
Support and Resistance Trend Lines Candlestick Analysis Trend Line Break resistance_level psycologicallevel goldtrading xauusdshort Bearish Engulfing Divergence rsioverbought
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supportandresistance trendline candlestick trendlinebreak resistance_level psycologicallevel goldtrading xauusdshort bearishengulfing divergence rsioverbought
Hello friends.
I saw a Strong Trendline Breakdown in Gold and Decide to share
with you my opinion.
I think Gold is in Overbought Area and It will record some correction
in coming days.
So i have some reasons for my opinion:
1-In Daily chart we can see a strong Bearish Engulfing candle (as you see in picture below)
snapshot
2-in Daily chart we can see a Divergence Between RSI and Price in Overbought Area (as you see in picture below)
snapshot
3-A Strong Bullish Trendline Breaks down in 1H.
4-We reach an important Resistance near the last High and psycological level of 2000.
so for this reasons i think Gold experience a little correction in coming days.
I think Gold will reach targets like 1900 an after that 1880.
I hope you like my idea and i will be happy if you share me your opinion too.
Thanks for reading my idea.

Just dont forget to set a good Stoploss and enter a trade with at least 1:1 R/R.

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