The XAUUSD trade had a few hick-ups before finally shooting above the 2180 price level. If you'd have followed me, this would have been a trade not to miss out on. Looking at the chart analysis, XAUUSD presents itself for a long term sell opportunity by aid of fib zones, structure, higher time frames and trendline. Area of interests would be off of the 2211 price region. Stops and targets as indicated.
REASON FOR THIS TRADE: Reversal Pattern (double top and bearish flag).
CONFIRMATIONS: Wait to see a 4H bearish candle to close.
DO I TRUST THIS TRADE TO PLAY OUT: Yes, 80%.
REASON FOR THIS TRADE: Reversal Pattern (double top and bearish flag).
CONFIRMATIONS: Wait to see a 4H bearish candle to close.
DO I TRUST THIS TRADE TO PLAY OUT: Yes, 80%.