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KingDee57
Aug 24, 2023 6:56 AM

XAUUSD - Bullish momentum or Bull Trap? 

Gold / U.S. DollarFOREX.com

Description

Yesterdays PMI data came in and most probably busted many accounts. I watch these live videos on socials. Counted at least 18 people with sell orders for gold yesterday...

we can see bullish momentum with gold currently
- Breaking previous highs
- Sweeping lows
- Buyside target

We can also see sell side liquidity, as market is creating higher highs, sellside liq is building..

What's the move? = Sit on your hands and study price action carefully. We not done for this week yet trust that ;)

Those psychological levels are in play..

Follow your rules !

Comment

4hr flipzone holding strong currently

if you entered around this zone and targeted last weeks high after Londons killzone you should be 0.50% up. With Gold thats plenty.

The Nyc session switched direction and hit the 4hr flipzone(stop hunt) - ask yourself whats really happening you...
Comments
JoeChampion
All depends on DXY
KingDee57
@JoeChampion, interesting how the market is setting up for Powell. expecting some fireworks
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