XAUUSD (GOLD) - Bearish Trade Possibility?
Self journaling:
Price is diverging on 1H bar close below 2357.95 (bearish engulf) I could see price push down ot 38.2, 50% or 61.8% for a formation of a Higher Low
Ideal situation is to TP at 38.2 because the trend broke out but its at a top of channel so touching the bottom is possible as well.
The best trade in these situations is waiting for price to come down to a level form a higher low and show curve to upside to take another long position.
Price is diverging on 1H bar close below 2357.95 (bearish engulf) I could see price push down ot 38.2, 50% or 61.8% for a formation of a Higher Low
Ideal situation is to TP at 38.2 because the trend broke out but its at a top of channel so touching the bottom is possible as well.
The best trade in these situations is waiting for price to come down to a level form a higher low and show curve to upside to take another long position.
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