Looks like the Sellers are assuming higher and higher positions only to crash the Gold Market down. This idea can further be layered with the intersection of Price with the median of the Pitchfork drawn with the major edges of the Market. The upward line of Blue modified pitchfork can suggest the next possible short entry.
Points to indicate that pivot 4 may be the Market edge for Short entry. Price respecting the below classes of information simultaneously. 1. Frequency shift line in Red horizontal line. 2. Median of Pitchfork drawn with respect to vectors 1,2 & 3 (at pivot 4). 3. Divergence of Price w.r.t RSI between pivots 2 & 4. 4. Steep fall immediately after touching pivot 4.
Entry: 1715 (Now) Stop Loss: 1745 Target: 1655
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XAUUSD Market assumed one more high to our anticipated Market edge depicted in our picture, did not touch our SL level and then collapsed like an avalanche. Looks like it has enough momentum to carryout further down to our reach Target. Lets see how this trade unfolds.
Disclaimer: The above analysis is for pure educational purpose only. Trade at your own risk.
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Price is currently trading at 1660. Our Target is 1655. Just few more pips to reach Target:)
XAUUSD Market assumed one more high to our anticipated Market edge depicted in our picture, did not touch our SL level and then collapsed like an avalanche. Looks like it has enough momentum to carryout further down to our reach Target. Lets see how this trade unfolds.
Disclaimer: The above analysis is for pure educational purpose only. Trade at your own risk.
Karthiktinku
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Thanks Folks for your views. Price always does something unpredictable. Lets see how this trade idea unfolds.
martiantrader9
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I don’t think this will go without a retest of 1740
martiantrader9
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@CargoGoldFX check my idea 💡
Bravetotrade
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Congratulations and well done for sharing your first idea with the community. Hope you will be having great experience.
Thanks for your contribution. From mod @Bravetotrade
Disclaimer: The above analysis is for pure educational purpose only. Trade at your own risk.