XAUUSD 24.06.2019
WEEKLY:
- possible retest of the trendline before further downside
- pair bounce on trendline twice (yellow sphere), thereafter, pair broke out (pink sphere).
- there could be a possible short opportunity if pair rejects the ascending trendline
- pair could spike to the 100% fib before continuing its downward mvnt
INVALID IF:
- weekly closure above the trendline
NB:
- watch DXY + SILVER for correlation.
- wait for upward momentum to decrease, therefore look for multiple rejections on the daily/ 4H time-frame before shorting
- wait for clear rejection on daily + 4H time frame before entering trade
- watch fundamental release prior to entering
- possible retest of the trendline before further downside
- pair bounce on trendline twice (yellow sphere), thereafter, pair broke out (pink sphere).
- there could be a possible short opportunity if pair rejects the ascending trendline
- pair could spike to the 100% fib before continuing its downward mvnt
INVALID IF:
- weekly closure above the trendline
NB:
- watch DXY + SILVER for correlation.
- wait for upward momentum to decrease, therefore look for multiple rejections on the daily/ 4H time-frame before shorting
- wait for clear rejection on daily + 4H time frame before entering trade
- watch fundamental release prior to entering
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.