@capitalmanagementservice: This is my analysis on XAUUSD on the 1 hour timeframe It is clear to see that price has broken out of bullish market structure. Price was previously forming higher highs followed by higher lows which is visually represented by the ascending channel drawn on the chart With a strong bearish impulse move to the downside breaking structure and forming a new lower low within the market this is the confirmation of a sell bias where I will begin looking for sell opportunities I am anticipating price to pullback to the 61.8% which lines up with a key level of sensitivity in the market. I will want price to pullback in a corrective structure which will imply that buyers are no longer active aggressively within the market I will be looking to target the bottom of the ascending channel Want to know which services I provide?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. . . . . . . . . . #XAUUSD #GoldTrading #PriceAction #ForexTrading #Trading
