Very great trading opportunity on XAUUSD. Price made a lower low on Daily and and right now price is approaching the entry point for a short. A lower high is expected following the market structure. The risk reward ratio is absolutely incredible and the stop loss is really tight.
A sell limit order is advised to catch the entry on time as a strong and volatile movement is expected from this entry price.
A sell limit order is advised to catch the entry on time as a strong and volatile movement is expected from this entry price.
Comment:
Price is approaching the entry area. As mentioned the last day my pending order is currently active and waiting to be executed. Weekly timeframe shows a bearish engulfing, Daily market structure shows lower high and lower low so everything aligns perfectly with the overall analysis. Very high probability trade here due to all the confluences that market shows.