Observation idea. For possible Future Short Opportunities.
I was able to secure 3 trades last week within this bullish channel. I was able to post an analysis of 2 of the opportunities. So while i am still in a very attentive position with this pair. I will continue. Now, i am out of all positions. As i wait for golds next move.
During NFP this Friday. I was able to observe the crash in the dollar, and the lift in XAUUSD price of $19.00. Which is a significant move. FIB Ratio .786 was condemned during this bull run. During my observation at market open. We see a close above structure, and signs of still buyers present. But low volume. Which of course is expected for Sunday- Maybe even Monday.
SO THE PLAN.
Close above .786 And price action finds support. This pair should have a bullish continuation to 1288.00 or even a retest of 1296 -1300 highs. If this takes place. I am interested in a short from those price ranges if the situation presents its self. (Candle Address)
I know for sure 1296-1300 is a strong resistance area. And even 1288 can possibly turn this around. I will be patient and await my opportunities. I find that a long at this price is simply too risky. I could of left my longs from 1262 this week. But that was not part of my plan. Always trade your plan!
1296-1300-Possible Short
1288-Possible Short
Check my link related idea from trade i took last week on this pair.
During NFP this Friday. I was able to observe the crash in the dollar, and the lift in XAUUSD price of $19.00. Which is a significant move. FIB Ratio .786 was condemned during this bull run. During my observation at market open. We see a close above structure, and signs of still buyers present. But low volume. Which of course is expected for Sunday- Maybe even Monday.
SO THE PLAN.
Close above .786 And price action finds support. This pair should have a bullish continuation to 1288.00 or even a retest of 1296 -1300 highs. If this takes place. I am interested in a short from those price ranges if the situation presents its self. (Candle Address)
I know for sure 1296-1300 is a strong resistance area. And even 1288 can possibly turn this around. I will be patient and await my opportunities. I find that a long at this price is simply too risky. I could of left my longs from 1262 this week. But that was not part of my plan. Always trade your plan!
1296-1300-Possible Short
1288-Possible Short
Check my link related idea from trade i took last week on this pair.
Trade closed: target reached:
Profits taken.
