XAUUSD PLAYING A RANGE IN A SELL ZONE.
As you can see in my previously XAUUSD analysis posted, Gold still playing a range in a Strong Supply Zone.
I'm expect a reversal soon, just wait for a reversal closed candle to consider a Short Position.
As a strong confirmation, we can see his correlation XAGUSD, reached his supply zone in the same timing of XAUUSD without broke it.
Demand Zones to consider as a Target as you can see are indicated in the graphic.
*Place a stop loss little bit more high than the currently resistance/support formed to don't take fake stop loss (set your stop loss at a level where it invalidates your trading setup).
Tap a LIKE if you think is a useful idea and comment below if you would share also your idea!
Please do your own research, and follow your trading plan with a properly Money Management.
I'm expect a reversal soon, just wait for a reversal closed candle to consider a Short Position.
As a strong confirmation, we can see his correlation XAGUSD, reached his supply zone in the same timing of XAUUSD without broke it.
Demand Zones to consider as a Target as you can see are indicated in the graphic.
*Place a stop loss little bit more high than the currently resistance/support formed to don't take fake stop loss (set your stop loss at a level where it invalidates your trading setup).
Tap a LIKE if you think is a useful idea and comment below if you would share also your idea!
Please do your own research, and follow your trading plan with a properly Money Management.
Comment:
Partially profits were taken at 1580 level, because price started to bounce. Demand Zones are still valid, we are going to test again the Supply Zone. I will publish again a new trading idea later. Stay tuned, thank you.
XAUUSD supply & demand zones are still valid, but I recommend to wait and to don't leave any opened position during the weekend due to the gaps & especially for Coronavirus fact.