XAUUSD is unable to break above the strong resistance
XAUUSD is challenging the upside resistance 1780 for days and weeks without a significant daily close. For the upside extension from here, we need to see a price action break above 1800 with significant price action close and confirmation. For a downside reversal and higher probability short trade entries, we need to see a break below 1750. The pair bounced off the strong long-term upside support 1500 after almost $200 swing down. The overall trend is up.
Note – Look for the short trade entries upon a break below 1760 with the stop loss above 1770
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Trend is your friend as long as you use trailing stops
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