Should XAUUSD make a bullish breakout continuation move, institutional liquidity will be at the 1900 level. A 38.2 daily fibo suggests that the next impulse move will be a rapid continuation to fib targets
Daily -> Bearish
4H -> Bearish
- Strong Zone of Resistance formed and rejected off of multiple times
- Trend Line Opportunity
- Ascending Triangle Price Pattern Opportunity
Trade is in the direction of the Daily Trend
TP is below the current Daily Lower Low
The expectation is for price to make a NEW Lower Low on the Daily (Trend) timeframe
4H Momentum Structure is still Bearish
1H/M30 timeframe is showing a Head and Shoulders downtrend reversal pattern
Risk Reward is 11 to 1 or greater if price is able to continue the Bearish Daily Trend and creates a new Lower Low beneath the most recent Low.
Daily Trend is bearish, H4 Price Action structure is bearish
Price is stalling in a range - resistance is being created.
H1 timeframe is going sideways - potential impulse to the downside possible.
Great reward to risk based on entry in the direction of the overall down trend.
Stops above the current price action resistance.
Target is the low of the...