We can see the structure of XAUUSD in the current market.
1) As in the yellow circle, we can see the formation of Drop Base Drop candlesticks. The price has reacted to the Base price level and we need to wait for the following confirmation before we put our entry.
2) In the Drop Base Drop has also made a fakeout and then has broken out at the support level 1857.74, then the support level that has been marked at 1857.74 has become Support Become Resistance (SBR).
3) According to this analysis technique, wait until the price makes confirmation candlesticks (engulf candlesticks formation) at the recommended timeframe is H4, and you can choose to place your sell entry.
4) The recommended TP is at the level of 1813.36 (approximately 380 pips starting from the SBR price level) because at this price level there is clean support and has never been touched yet.
5) I have put my Sl as an open, so you need to mind your trading capital and risk as best as you can.
6) You can put your sell entry now, it may be a little bit risky, but based on our analysis, we can predict that XAUUSD will be going down and hit our TP target.
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.