Gold has retraced to 61.8% from the last swing high at 1217, it is also at support now and we expect this pair to go down as DXY continues its way up. We can short XAUUSD now and target 1186 and 1175. Stop level should be at 1201.
For other pairs, kindly view my other analysis.
For other pairs, kindly view my other analysis.
Kommentera:
50 pips now, if you took the trade, move move SL to breakeven or close some lots.
Kommentera:
After price broke the uptrend in 15m, it made a pullback to retest the broken structure. We can add sell positions from 1191-1192.
SL would be the original entry price which is 1195.23. The first position should be now at breakeven so you are only risking 30 pips for the 2nd entry and the first entry is risk free.
SL would be the original entry price which is 1195.23. The first position should be now at breakeven so you are only risking 30 pips for the 2nd entry and the first entry is risk free.
Kommentera:
Nice drop!
Nice drop!
Move SL to breakeven once price reaches 40 pips. It is now almost 30 pips from entry. This chart on 15minute shows gold has just broken the trendline. We expect more down move from here,