Title
XAUUSD H4 | React off resistance
Type
Bearish Reversal
Preference:
Price is currently at our pivot point of 1912.723 which is an overlap resistance. A reverse from here, price could fall to 1st support at 1894.686 which is a swing low support level
Alternative scenario:
However, if price breaks above the pivot, it could rally to 1st reassurance at 1933.952
Furthermore, price is below a major descending trend line and a descending trend line acting as resistance.
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Source: Tickmill