FX:XAUUSD   Gold/U.S. Dollar
179 2 0
Fundamentally and Technically this is a very nice short.

Fundamentals - Feds raising US Interest Rates which will lead to pre-release positioning from smart money.

Technicals - Big resistance cluster........

- Channel resistance
- Previous trendline support acting as resistance
- Previous dynamic support around the 1140 area acting as resistance.
- Fib Retrace & Extension that runs in to the 1040 area which is a historical area of support / resistance back in 2010

Only thing now to do is wait for the offer to be lifted to get in higher and then smash the bids.

I'll update on position entry and so on. I'll be waiting for a nice 240m/Daily/Weekly candle stick signal to get in.
timwest PRO
2 years ago
And then can you discuss how wide of a stop you will use as well?
Reply
BobbieBrownTrading timwest
2 years ago
Not sure if that was a snarky remark however I'll be looking for a nice reversal candle to enter on and place my stop loss above.
Reply
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