XAUUSD SHORT / Bulls can't take back control, yet.
I prefer making videos... but the last 2 videos I tried to upload get stuck at a certain percentage and the upload stops, so... pics it is :)
Im short on XAUUSD, here are the reasons:
Price action strongly rejected this level in recent time and my entry system has ticked when the lower has was made recently (and price couldnt break above my fib resistance levels).
RSI even tough set to just 5 (perfect for my strategy, dont ask) has not reached the over bought level but the candlesticks in the last few hours tell me that the sellers have control here.
Price action has been supported on the upside by that blue trendline, which is now broken.
With all of the above, im short with as always, an excellent Reward over Risk!
Good luck trading!
Oh yes, and the daily pivot is above price.
Im short on XAUUSD, here are the reasons:
Price action strongly rejected this level in recent time and my entry system has ticked when the lower has was made recently (and price couldnt break above my fib resistance levels).
RSI even tough set to just 5 (perfect for my strategy, dont ask) has not reached the over bought level but the candlesticks in the last few hours tell me that the sellers have control here.
Price action has been supported on the upside by that blue trendline, which is now broken.
With all of the above, im short with as always, an excellent Reward over Risk!
Good luck trading!
Oh yes, and the daily pivot is above price.
Comment:
Expecting both XAG and XAU to continue south soon
Trade closed: target reached:
Done and dusted. Now buying (check out my latest idea, released 16.11.2020)
