FX.co ★ king.zelda | XAU/USD, GOLD

XAUUSDHello everyone! The linear regression channel on the M15 chart has turned downwards, highlighting the dominance of sellers in the market. The market movement is heading south towards the level of 4142.62. Upon reaching this level, a pullback to the upside is possible, as the channel volatility will be selected on this chart. It is advisable not to sell near the lower channel boundary, but to wait for a retracement to the upper part of the channel at 4219.22. This will help reduce losses. The slope of the channel determines the strength of the seller in the market - the steeper it is, the stronger the movement. A slight slope indicates selling at the initial stage of formation.

On the hourly chart, the linear regression channel is pointing downwards, indicating the strength of the seller. The hourly channel is primary, with the M15 being secondary. In both charts, the channels are directed southwards. It is preferable to look for shorts, as buying would mean going against the trend, which is more likely to result in losses than profits. If the level of 4219.22 does not stop the buyer, then the uptrend is likely to continue. Bulls will rise to the upper part of the channel at the level of 4307.51, from where it is worth considering selling. Selling from this point will be very interesting, as there will be a retracement on the hourly chart. After that, bears will show their activity moving towards the lower part of the channel at 4155.27. Channel volatility will be selected there, and selling will have to wait until bulls play out part of the movement.