Hi guys, Today I'm covering Xauusd once again.
in my last analysis I highlighted couple supply areas, which price reacted to only 1971 as the CPI news hit the market. so currently price is inside the sell side area of 1971-1975. At this point multiple scenarios could take place if price breaks up then 1983-1989 level is a sell side zone and if continues downward first line of defense would be 1961 which has reacted to once and second level would be 1957 level.
So make sure you wait for either of these levels to be triggered and take trade while adding your own logic into it.
* One important Note : Today PPI news will hit the market in 1hr so whole analysis here is subject to the news.*
Be honorable
in my last analysis I highlighted couple supply areas, which price reacted to only 1971 as the CPI news hit the market. so currently price is inside the sell side area of 1971-1975. At this point multiple scenarios could take place if price breaks up then 1983-1989 level is a sell side zone and if continues downward first line of defense would be 1961 which has reacted to once and second level would be 1957 level.
So make sure you wait for either of these levels to be triggered and take trade while adding your own logic into it.
* One important Note : Today PPI news will hit the market in 1hr so whole analysis here is subject to the news.*
Be honorable
Comment:
market swept the liquidity above the 1975 level and drop to 1964.
Comment:
Great reaction to 1956 level , I gained 80 pips
Comment:
Second reaction to the zone this time 110 pips
Comment:
Price is rising next area of sell is around 2001
