XAUUSD Opening Range Breakout Failure
Opening range for the year is the month of January. Opening range breakout failed in February and beginning the up move.
There were 3 levels of rise out of monthly highs.
Market structure broke down making a lower low and beginning a parabolic channel.
Looking for continued downside movement prior to channel capitulating to the downside.
I view this as a pump and dump and price should return back to the yearly lows in the range of 1820-1840
There were 3 levels of rise out of monthly highs.
Market structure broke down making a lower low and beginning a parabolic channel.
Looking for continued downside movement prior to channel capitulating to the downside.
I view this as a pump and dump and price should return back to the yearly lows in the range of 1820-1840
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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.