Wednesday, 13 October 2021

Xauusd Overview


 The rise in the market price that took place yesterday after being tested at the opening price of 1754.00 did rise up to the level of 1769.00

 from this $ 15 increase is the market price today able to make an increase or even follow the original trend where the downtrend will occur following the big bearish in the past?

 From the current chart today, I see a rejection at the price of 1763.00 which is the first resistance area after the market opened this morning.  Continuing that, the price also has confluence on the trendline area in the M15 timeframe tested.

 These are the support and resistance levels of gold today:

 R1: 1763.00

 R2: 1769.00

 R3: 1779.00


 S1: 1757.00

 S2: 1751.00

 S3: 1741.00

 The price opened today at 1760.00, from Monday’s chart to the current market.  The majority of the movement is still in a horizontal position so looking from this potential, short term trading can be done in the following areas.

 Trading management 1: 1.5 to 1: 2 can be used as a guide to place a good risk reward in current trades.

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