Potential Trading Opportunity. Gold Overview.
I was able to do a quick spot check on g old here at 11:30pm Est. I waited all day for g old to show some sign of relief from the downtrend for the trading week. It has finally showed it. A pull back of 8 to 10 dollars. or .70% Or maybe more. Thats current price-action. XAUUSD
At this point in time. I would lower time frames and be applying entry technique and getting a good idea of where this pullback may end.
On a more overview look, i anticipate gold to return to major bullish structure below. 1251.20 range. If DXY continues to catch traction, with NFP ahead. And other financial news needing to be hawkish. If so, this looks to be the projection. I will be keeping a tight observation on the progress with this idea.
If i take this trade it will be something along the lines of; Retest confirmation/ entry technique.
Short 1276.50 SL 1283.00 TP-1253.00 Or Split Target one at 1263.00 To secure profits.
At this point in time. I would lower time frames and be applying entry technique and getting a good idea of where this pullback may end.
On a more overview look, i anticipate gold to return to major bullish structure below. 1251.20 range. If DXY continues to catch traction, with NFP ahead. And other financial news needing to be hawkish. If so, this looks to be the projection. I will be keeping a tight observation on the progress with this idea.
If i take this trade it will be something along the lines of; Retest confirmation/ entry technique.
Short 1276.50 SL 1283.00 TP-1253.00 Or Split Target one at 1263.00 To secure profits.
Trade active
Trade closed: stop reached
Comment:
Tight stop. So we out.