AUD/JPY head & shoulders sell signal [Video]

Jason Sen DayTradeIdeas.co.uk

XAU/USD

Gold shorts at my sell opportunity at strong resistance at 3367/72 worked perfectly as we hit 3355 & 3343 & support at 3310/3305.

I warned this was mid range so there was only a 50/50 chance of a bounce from here.

The break below 3000 triggered a slide to my 1st target of 3283/80 & within 2 points of the next target of 3263/59.

First resistance at 3315/20 this week. Shorts need stops above 3325.

A break higher can target resistance at 3350/55. Shorts need stops above 3365.

I doubt we can bounce from 3263/59 on a 3rd test & a break lower is more likely this time.

We should then target 3250 & even a test of strong support at 3220/3210 is possible at some stage.

A break above 3365/70 is a buy signal targeting 3385/87 & 3395/99, perhaps as far as 3405/08.

Author

Jason Sen

DayTradeIdeas.co.uk

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