$$XAUUSD, Just Like Majority Of Dollar Pairs, We Have Seen Dollar Breaking Out, (Bullishly)
From Last, Week,However I've Acknowledge Most Pair Has Shown Signs Of
Slowing Down With The 'Stong Dollar Momentum, As Most Dollars
Are Struggling To Break Out Key Levels Which Will Indicate Future Strength With Dollar, Which I have Identified
With XAU/USD. As You Could See From This Pair,
Price Has Broken Out Of A Few Structures As You Can See However Price Has Stalled Around The 0.382 Area, Which
Could Also Be Any Are Of Possible Re-Tracement.
I Still Believe There Is More Room For GOLD/DOLLAR To Continue It's Downwards Trend And How I Will Be Playing It Out
Is By Patience Waiting For Price To Close Below 38.2% On The 240 Timeframe, When/If That Happens I Will THEN
Be Patience For A Possible Close Below Support Level I Have Identified Around Price Level 1301.19
Aiming For The Golden Ratio 0.618 However Locking In Potential Profit If Price Hits 0.5% On The Fib Ratio
From Last, Week,However I've Acknowledge Most Pair Has Shown Signs Of
Slowing Down With The 'Stong Dollar Momentum, As Most Dollars
Are Struggling To Break Out Key Levels Which Will Indicate Future Strength With Dollar, Which I have Identified
With XAU/USD. As You Could See From This Pair,
Price Has Broken Out Of A Few Structures As You Can See However Price Has Stalled Around The 0.382 Area, Which
Could Also Be Any Are Of Possible Re-Tracement.
I Still Believe There Is More Room For GOLD/DOLLAR To Continue It's Downwards Trend And How I Will Be Playing It Out
Is By Patience Waiting For Price To Close Below 38.2% On The 240 Timeframe, When/If That Happens I Will THEN
Be Patience For A Possible Close Below Support Level I Have Identified Around Price Level 1301.19
Aiming For The Golden Ratio 0.618 However Locking In Potential Profit If Price Hits 0.5% On The Fib Ratio
Order cancelled:
Price Failed To Close Below 1302.34 On The 4Hour - Trade Set-Up Is Invalid