1/ DYOR
2/ Not financial advice
3/ Only enter if it follows the plan
PLAN:
- expect a retrace to Equilibrium level
- enter a small long position at OTE Fib 70
- expect it breaks above 1.26 to 1.265 and retrace to 1.26 level
- enter a long around 1.2605
XAUUSD trapping longs? XAUUSD is highly negatively correlated to DXY. Yet, when DXY is making new higher highs, XAUUSD is also trying to make higher highs. One of them will be proven incorrect.
My suspect is XAUUSD. Hence, its trapping in progress!
Moreover, there's a bunch of liquidity ready to be raided below monthly lows (notice two equal lows to the left) - Candy land!
