kojemagan

XAUUSD TRADE IDEA

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Price creates liquidity from clearing equal highs at around $1750, following the double bottom formation formed at $1680, which created liquidity from a 450 pip stop run after clearing equal lows from 8th March. Price balanced out the previous imbalanced bearish move to $1680, and a bullish move to the liquidity sitting at around $1750 followed shortly after, as expected. Now I expect the price to retrace back to around $1700 to clear the imbalance created by the last bullish move.
This anticipated direction also supports my bullish bias for DXY , which I expect to retest near the 92.900 level.

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