XAUUSD has been a pretty downtrend, since the break out at 1305.00.
Structure has not indicate a reversal, and is coming into contact with a weekly inside bar break out supply zone. I would hunt for short entries with stop loss at 1219.00. I would enter with a reversal candle, at least at a H4 time frame. There are a lot of selling pressure for XAUUSD, 1226.00, 1235.00, 1244.00 are all good supply zones to place short orders.
The strategy for entry is the same. I would hunt for short entries with a reversal candle in H4 or H1 time frame, and my stop loss will be just above the reversal candle.
Structure has not indicate a reversal, and is coming into contact with a weekly inside bar break out supply zone. I would hunt for short entries with stop loss at 1219.00. I would enter with a reversal candle, at least at a H4 time frame. There are a lot of selling pressure for XAUUSD, 1226.00, 1235.00, 1244.00 are all good supply zones to place short orders.
The strategy for entry is the same. I would hunt for short entries with a reversal candle in H4 or H1 time frame, and my stop loss will be just above the reversal candle.
Comment:
My trade is active. Entry is based on M30 inside bar. Stop loss just 200 points above entry.
Trade closed: stop reached