@capitalmanagementservice: This is my analysis on XAUUSD on the 1hour timeframe We can see price has just had a strong impulse move to the downside breaking through support confirming the continuation of the bearish trend Following this impulse price has pulled back to retest previous support as resistance in a corrective manner. This correction implies that buyers are not active within the market which is exactly what we want to see when looking for sell positions Recently, price has broken away from the rising wedge which is a bearish reversal pattern by forming a strong bearish impulse. This has formed a new lower low which confirms the continuation of the bearish trend I will be looking for price to pullback and form a lower high where I will be looking to initiate a sell position Want to know which services I provide? Check out the link in my bio! ~ NB ~ This is not a trading signal or financial advice. Trading carries risk. . . . . . . . . . #technicalanalysis #passiveincometips #forexaccountmanagement #forextradingstrategy
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