XAUUSD-SHORT THESIS-Wed Jan 31st-Fed Event
Short Meltdown Incoming!!!
Entry positioned in London High, which turns out to be NY session Fibonacci point, also alligns with classic Fib retracement Golden zone. Stop loss above daily high. Profit target from 2020s and lower. From my fundamental part of analysis, my take is that Fed won't cut the rates and that press conference as Fed statement might be very hawkish, that concludes my target at 1996.00
*SELL LIMIT:
-ENTRY: 2041.00
-STOP LOSS: 2049.00(80 pips)
-TAKE PROFIT: 1996.00(450pips)
Entry positioned in London High, which turns out to be NY session Fibonacci point, also alligns with classic Fib retracement Golden zone. Stop loss above daily high. Profit target from 2020s and lower. From my fundamental part of analysis, my take is that Fed won't cut the rates and that press conference as Fed statement might be very hawkish, that concludes my target at 1996.00
*SELL LIMIT:
-ENTRY: 2041.00
-STOP LOSS: 2049.00(80 pips)
-TAKE PROFIT: 1996.00(450pips)
Trade closed: stop reached