XAUUSD shorting Idea: Gold bounce to end soon?
Gold bounced quite strongly, helped by Dollar weakness across the board.
Given such a strong bounce, I think it might have a little more room to the upside before plunging.
It is possible it has peaked already, but I would like to see it finish a well defined ABC move up, for a wave 4.
Of note: NFP release on Friday, which might have a dramatic effect on all pairs including XUAUSD.
So any entries before the release will be quick scalps with small position sizes.
This bounce came from a critical support zone that I was watching in my last post.
That zone in above chart was clearly important, and bulls sure stepped in.
Now lets see how much momentum this bounce really has.
Given such a strong bounce, I think it might have a little more room to the upside before plunging.
It is possible it has peaked already, but I would like to see it finish a well defined ABC move up, for a wave 4.
Of note: NFP release on Friday, which might have a dramatic effect on all pairs including XUAUSD.
So any entries before the release will be quick scalps with small position sizes.
This bounce came from a critical support zone that I was watching in my last post.
That zone in above chart was clearly important, and bulls sure stepped in.
Now lets see how much momentum this bounce really has.
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