Inital consensus as posted earlier was XAUUSD will retest and price will fall short, however price did not follow my entry requirements so I did not enter the short position.
Now price has broken the previous resistance zone and is consolidating sideways above it.
How I will be entering:
- I will be waiting for a candlestick that wicks down to the current zone that it just broke which will indicate a retest and rejection of that zone.
- I will then wait for a nice bodied bullish candle to confirm the upwards move and will enter at the close of that candle.
Now price has broken the previous resistance zone and is consolidating sideways above it.
How I will be entering:
- I will be waiting for a candlestick that wicks down to the current zone that it just broke which will indicate a retest and rejection of that zone.
- I will then wait for a nice bodied bullish candle to confirm the upwards move and will enter at the close of that candle.
Order cancelled:
After the wicked candles I didn't get a full bodied bullish candle instead price broke through zone. Did not enter