XAUUSD Longterm View. Long or Short position. 07.03.2021
As seen on the daily chart, next week, probably, will be a very critical.
The price is above the longterm upward channel's bottom line and at the same time midterm channel's downward bottom line.
The death cross is remarkable. White line EMA50, Red line EMA200, green line EMA400
Also, price is at the edge of 61.8 of last uptrend movement (March and August 2020).
So it is not easy to decide for one direction.
For long positions, it is better to wait until 1796, for the short positions the breakout of upward channel's bottom line
will be guiding.
1711 is Fibo 38.2 level of weekly chart's and 1599 is Fibo 0.50...
I welcome comments and likes.
..........................................................................
Disclaimer: The given information on the chart and comments are not a Financial Advice.
Be carefull abaut your risk assessment...!!!
..........................................................................
The price is above the longterm upward channel's bottom line and at the same time midterm channel's downward bottom line.
The death cross is remarkable. White line EMA50, Red line EMA200, green line EMA400
Also, price is at the edge of 61.8 of last uptrend movement (March and August 2020).
So it is not easy to decide for one direction.
For long positions, it is better to wait until 1796, for the short positions the breakout of upward channel's bottom line
will be guiding.
1711 is Fibo 38.2 level of weekly chart's and 1599 is Fibo 0.50...
I welcome comments and likes.
..........................................................................
Disclaimer: The given information on the chart and comments are not a Financial Advice.
Be carefull abaut your risk assessment...!!!
..........................................................................
