selling gold after it tookout the lows and switch to the upside pulling more buyers into the market before the big sell off, also taking in consideration dxy trading higher which means dollar is getting more stronger.
expecting price to retrace back up after down move when london's session open, price has reached a key level of support so we should expect a reversal up, my target is 50 pips but i look to secure some profits on 20 pips and put my stop loss to break even
for the next week i expect us30 to reverse to the upside for the following reasons :
- price made a support and broke our trend line the to up side
- higher low formed so we expect price to keep pushing up and create a higher high
- by looking at the candles where price is at we can clearly see a bulish engulfing pattern
i will look to take this trade after i see...