XAUUSD
As much as there is a lot going on in the market we still look at market structure,
If you look at at the chart from a larger point of view we see that price is retesting the trend line.https://www.tradingview.com/x/34aE95pR/
Confluences:
- price broke out its rising structure when it broke the red trend line.
-we now wait for price to break the descending trend line before we look to sell.
-on the 15min chart we will wait for price to go under the 40Moving average.
-The RSI indicator also broke out from the high and we see price possibly making its way down.https://www.tradingview.com/x/HK3IiEjb/
our stop loss is 0.64% away and profit is roughly at 2.28%
If you look at at the chart from a larger point of view we see that price is retesting the trend line.https://www.tradingview.com/x/34aE95pR/
Confluences:
- price broke out its rising structure when it broke the red trend line.
-we now wait for price to break the descending trend line before we look to sell.
-on the 15min chart we will wait for price to go under the 40Moving average.
-The RSI indicator also broke out from the high and we see price possibly making its way down.https://www.tradingview.com/x/HK3IiEjb/
our stop loss is 0.64% away and profit is roughly at 2.28%
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