XAUUSD - Short Opportunity - Monthly Resistance 1300.00
XAUUSD
I am demo trading and documenting my progress. This is not intended to be a sell signal !
Ascending Trend line Structure on 4H met resistance at Weekly 1350.00. Currently respecting resistance on a down trend structure bounce and for extra confluence respecting Monthly resistance at 1300.00.
Retest of Weekly Resistance still possible. Buyers may look to breakthrough however I anticipate a sell down to 4H Support before pushing higher breaking that 1300.00 price point.
Sell at CMP 1298.00
SL - 1302.00
TP - 1285.00