We can see
XAUUSD
broke daily uptrend trendline after testing weekly downtrend trendline. A break below 1300 level should warrant a short position after retesting support turned resistance, targeting 1211 level (previous structure and 50% retracement). Else we should wait for a break of weekly downtrend to opt for long positions.
XAUUSD
broke daily uptrend trendline after testing weekly downtrend trendline. A break below 1300 level should warrant a short position after retesting support turned resistance, targeting 1211 level (previous structure and 50% retracement). Else we should wait for a break of weekly downtrend to opt for long positions.
Comment:
Comment:
Nice move down +500 pips, to 38.2% retracement
