XAUUSD, H4
In the H4 timeframe, XAUUSD surpassed the 2360 resistance and upper Bollinger band line. RSI indicates overbought conditions, suggesting a possible trend reversal upon RSI exiting the overbought zone, leading to a return within the Bollinger channel.
• Trade: Sell XAUUSD upon the price breaking below 2360 resistance and RSI retreat from the overbought zone.
• TP: 2330, 2305.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
