OANDA:XAUUSD   Gold Spot / U.S. Dollar
Taking momentum into account and change of obvious market structure it only makes sense for my analysis to be bearish .
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.

PLAN:
1.Momentum is down so im looking for a break of support zone .
2.Preferably a close below the support on the daily but if i get 4hr closes below followed by 4hr retests that will still be valid for me.
3.Wait for key candles like bearish engulfing or a doji , anything to signify rejections or reversals.
4. Execute sells with propper risk management and 20-30pip stops.
Comment: trade still active, we just need to wait for break of this support zone and a retest, got alerts set so will patiently wait.
Comment: Not added to spreadsheet yet
Comment: Don’t add to spreadsheet

Comments

Nice analysis 👌 I am expecting price to bounce soon and make a bullish run though
Reply
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