Xau/usd short setup!!
TOP DOWN ANALYSIS
WEEKLY TIMEFRAME
----Structure is uptrend
----Ema pointing upward and price is above
DAILY TIMEFRAME
-----EMA are pointing sideways indicating consolidation
-----Price ranging btn 1745 high and 1675 low
----Structure still maintain to upside and we had a complete retest of daily structure
H4 TIMEFRAME
----we had break of structure and shift of momentum to upside
---we need to see price retrace all the way to 61.8 % fib level to form a head and shoulder pattern also key liquidity point
---Ema crossover to downside indicating retracement plus price has broken 1723 level
H1 Timeframe
---- EMA crossover indicating price will drop in confluence with the H4 timeframe.
WEEKLY TIMEFRAME
----Structure is uptrend
----Ema pointing upward and price is above
DAILY TIMEFRAME
-----EMA are pointing sideways indicating consolidation
-----Price ranging btn 1745 high and 1675 low
----Structure still maintain to upside and we had a complete retest of daily structure
H4 TIMEFRAME
----we had break of structure and shift of momentum to upside
---we need to see price retrace all the way to 61.8 % fib level to form a head and shoulder pattern also key liquidity point
---Ema crossover to downside indicating retracement plus price has broken 1723 level
H1 Timeframe
---- EMA crossover indicating price will drop in confluence with the H4 timeframe.
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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.