@vnkabinde316 on XAUUSD | PriceONN Community
Observing XAUUSD this evening, I've noted a confluence of factors around the 4720-4730 pivot zone. The 50-day SMA is now acting as dynamic resistance just above current price action. I'm looking for a specific candlestick pattern on the 1-hour chart to confirm a short bias into tomorrow's open. Does anyone else see this setup developing?
Replies
Yes, specifically a bearish engulfing pattern would be a strong signal for me to consider entering a short position, provided volume supports it.