Koyejo

XAUUSD SHORT - Patiently and Carefully Look for Entry

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
After completing an impulse and correction on the daily chart , I expect this pair to make another impulse and create a lower low. Considering that the pair is currently inside a resistance area with strong market structure and Fibonacci confluence , it is a good time to monitor price action development on lower time frames to find a good entry. A good swing target would be the 127.2% fib extension of the daily retracement.

It is very important to be patient and careful with gold , it can be mercilessly manipulated.

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