Looking for the targets above to be reached.
Fundamentally - Brexit along with global recessions are on the cards which will strengthen XAU.
Technically - Bearish structure on 4H time frame has been broken however looking at M time frame we can see higher prices looking exhausted.
Long term i would like to see 1700 reached and above that will confirm bearish structure broken on the higher time frames.
I have added to my positions and will be looking for XAU to hit 1530 as a more immediate target but ultimately higher targets i also want to be taken out due to fundamental aspects as well as some technical, we still have a week left to see some more bullish action before a potential reversal.
Fundamentally - Brexit along with global recessions are on the cards which will strengthen XAU.
Technically - Bearish structure on 4H time frame has been broken however looking at M time frame we can see higher prices looking exhausted.
Long term i would like to see 1700 reached and above that will confirm bearish structure broken on the higher time frames.
I have added to my positions and will be looking for XAU to hit 1530 as a more immediate target but ultimately higher targets i also want to be taken out due to fundamental aspects as well as some technical, we still have a week left to see some more bullish action before a potential reversal.
Comment:
1533 achieved which is my third TP , i have closed half of my positions and will now see how this plays out