XAUUSD | Bearish trend to continue for time being

#Week13-14-Competition-1

BEARISH INDICATOR (JAN 05)
1. Bearish LHs and LLs
2. A previously tested Support zone between 1815.609 and 1818.544 is expected to be tested
3. The Bearish trend line has been tested thrice but so far not broken
4. The pullback is expected till Fib level 50% but then bearish trend is expected.
5. The harmonic ABCD Bullish reversal is in process of creation but so far point D is not reached and if formed the at least the Support zone of between 1815.609 and 1818.544 is expected to be tested
6. No Divergence is formed


BULLISH INDICATOR (JAN 05)

1. The Price is trying to reverse and making some bullish candles
2. If pullback breaks Fib level 50% and also the bearish trend line, then confluence will make bullish reversal more probable

PREDICTIONS
1. Price will go more bearish at listed till the support between 1815.609 and 1818.544 is expected to be tested making a limited SHORT opportunity.
2. After reaching ABCD Bullish reversal point D, BULLISH rally is expected.


BIAS 1 = SHORT - PLAN A (Buy @ Market with tight TP)

BIAS 2 = LONG - PLAN B, (Will wait to write details of PLAN-A till reversal is confirmed)


TRADE PLAN
———————

PLAN A: SHORT @ Market

EN: 1837.513 (@ Market)
SL1: 1841.60
TP1: 1831.63 - RR: 1.44 - Lt: 0.22

EN2: 1836.15
SL2: 1842.537
TP2: 1828.453 - RR: 1.8 - Lt: 0.16


PLAN B:LONG (Will wait till Plan-A is closed and reversal is confirmed)

EN: ????.?? (@ Pending Buy Stop)
SL1: ????.??
TP1: ????.?? - RR: 1.07 - Lt: ??
SL2: ????.??
TP2: ????.?? - RR: 1.41 - Lt: ??