We are seeing short term fear and uncertainty in the markets, as Inflation scares are still active and affecting many countries around the globe. Economic Data is not suffice or where it needs to be to see Economic Recovery. Central Banks starting to review their policy measures regarding tapering of stimulus and Interest Rate Hikes. We see a sell off on Global Equities from the highs, VIX peaked from lows, US $ and JPY creating new intraday highs and breaking out of order blocks (Safe Haven Currencies)
On XAUUSD we are seeing that from previous week we had buyers take profit causing sellers to take over on a intraday period where we saw price drop from 1834 down to 1795KL. On monday we saw price react off of the 1795KL and we had buyers jump back in the market, as the Price dropped to 1795KL which was also a weekly lower wick creation. We are still maintaining HTF Bullish MS and Bias.
Trade Ideas:
Buy setups;
1. Medium Risk buys at 1812.500KL
2. Safe Risk buys above 1820KL
Sell setups;
1. Sells at the rejection around 1818 high or 1820 KL
2. Looking for medium risk sells below 1812.500
On XAUUSD we are seeing that from previous week we had buyers take profit causing sellers to take over on a intraday period where we saw price drop from 1834 down to 1795KL. On monday we saw price react off of the 1795KL and we had buyers jump back in the market, as the Price dropped to 1795KL which was also a weekly lower wick creation. We are still maintaining HTF Bullish MS and Bias.
Trade Ideas:
Buy setups;
1. Medium Risk buys at 1812.500KL
2. Safe Risk buys above 1820KL
Sell setups;
1. Sells at the rejection around 1818 high or 1820 KL
2. Looking for medium risk sells below 1812.500
