XAUUSD shorts approaching entry.
On the chart we have marked up my prediction for Gold. Awaiting a retracement to the marked supply zone to continue the sell-off first towards 1490 then 1440 and beyond.
Trade safe & manage risk.
First of all - waiting for a daily close is essential on this trade.
If price closes up as a bearish pin bar on the daily, we are in for a smooth ride towards 70.750.
Trade safe, manage risk, good luck.
Get your shorts in ready to ride EURUSD down to new lows.
There are fundamentally no strong reasons why investors would be holding their bets in the Euro long against the dollar right now. Technicals are also on point, with a clear break retest of support-turned-resistance, and a wick reversal within my fibonacci hotspot.
Wide stops - it's a swing trade.
STOP LOSING TO THE SHARKS
Why do 95% of traders fail? Because you learn from the masses, then you lose with the masses. You are being fooled by the banks & institutions.
The very core of technical trading revolves around support & resistance. You are taught to sell if price breaks support and buy if price breaks resistance, but you aren't taught to win - you...
XAUUSD will roll over from the current liquidity region, and bring price closer to the $1500 support floor.
The $1533 psych level provides us with an ideal barrier for stop loss placement.
Trade safe, manage risk, enjoy.