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Down trend in Gold 1 hour chart
Monday, February 23, 2015 11:07
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Trend is bearish in 1 hour time frame. The intraday resistance could be seen at the price level of 1245.74 price level. Yesterday, the price of XAU/USD tried to rise and then fall which looks like start of a weak bearish trend. As long as the flow of market remains down, I am interested to take selling trading opportunities. If bullish candlestick closes above 1245.74 critical resistance level then down trend is going to end. Hence, I might like to quit trading XAU/USD and redo the 1 hour chart analysis.
Source: http://www.fxinstructor.com/blog/down-trend-in-gold-1-hour-chart-3
