XAUUSD: Sell opportunity on the 4H MA40.

Gold is trading within a 1D Channel Up since the February 24th High (RSI = 62.180, MACD = 21.590, ADX = 52.997, Highs/Lows = 1.9297). On the last leg towards the Higher Low trend line, the price found support initially on the 4H MA50 (blue line) and only when it broke it got continuation towards the 4H MA200 (where it made the Higher Low slightly below).

We will use this as a break out point and sell once the 4H breaks. Our Target Zone is 1,600 - 1,580.


** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.