DEALERBTC $GOLD #XAUUSD My Thoughts For Tomorrow / Week Ahead
In my opinion, on a break above $1808, price will likely make a momentum move up to $1869. If price were to move above $1808, I’d take a long after a retest on the M5 @ $1808 with a stop just slightly below.
However, if price breaks below the red trend line in the local green circled area, I think, it would warrant a short entry after a retest on the M5 with a stop slightly above $1808. If short taken, I’d watch for a reaction @ $1783.88. If lack of breakdown, I'd close short there. A break of $1788 would likely continue to test $1765.9, which in my opinion would break and result in a move lower to $1719.
This trade idea is not financial advice, I am not any kind of financial advisor. I am a stupid degenerate gambler. Please do your own analysis, responsibly manage your risk, and stay safe.
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However, if price breaks below the red trend line in the local green circled area, I think, it would warrant a short entry after a retest on the M5 with a stop slightly above $1808. If short taken, I’d watch for a reaction @ $1783.88. If lack of breakdown, I'd close short there. A break of $1788 would likely continue to test $1765.9, which in my opinion would break and result in a move lower to $1719.
This trade idea is not financial advice, I am not any kind of financial advisor. I am a stupid degenerate gambler. Please do your own analysis, responsibly manage your risk, and stay safe.
Thanks for hitting the like button!
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