ags92

Looking to short XAU again on re-test of last highs

Short
FOREXCOM:XAUUSD   Złoto / Dolar USA
First XAU short went as planned, pulled back to 50% retracement level in confluence with h4 support. Minor bullish exhaustion at this level, now currently breaking upward out of symmetrical triangle that was formed during this brief consolidation. Looking for another short opportunity on the re-test of these last high levels. First opportunity would be at the bottom of the exhaustion zone (red) and top price channel trend line (green). Second opportunity to short this re-test would just above price channel at daily resistance @ 1550. Targets range from the 38.2% retracement, 50% again with H4 support, creating a temporary price channel, or fall to 61.8%, testing the median price channel trend line. ***signs of exhaustion on weekly chart.
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