TWO SCENARIOS FOR NEXT WEEK.
DAILY CLOSURE WILL INDICATE WHICH SET-UP IS VALID
SET-UP 1:
- Looking to long AU on break above 0.71450.
- If daily closure is above this level then will look for a long entry to continue with the bullish momentum.
- This could possibly be the third bounce of ascending trendline and reversal from golden retracement levels.
SET-UP 2:
- If daily closure is below 0.71450 and breaks ascending trendline, we could look to short AU on retest of 0.71450.
Waiting for daily closure before trading pair
DAILY CLOSURE WILL INDICATE WHICH SET-UP IS VALID
SET-UP 1:
- Looking to long AU on break above 0.71450.
- If daily closure is above this level then will look for a long entry to continue with the bullish momentum.
- This could possibly be the third bounce of ascending trendline and reversal from golden retracement levels.
SET-UP 2:
- If daily closure is below 0.71450 and breaks ascending trendline, we could look to short AU on retest of 0.71450.
Waiting for daily closure before trading pair