Caution
Our Pivot: 1904.50
Our Preference: Start short selling XAUUSD below 1899.40 with strict stop loss of 1904.50 and profit target at 1890.00 with extension towards 1884.
Alternate Scenario: Upward penetration of 1904.50 will call for 1912.
NOTE: XAUUSD is being capped by 61.8% correction of its last daily and weekly bearish rally and this a crucial region for short term trading. Currently Swing trading between 1904-1882 would be beneficial and breakout of either side would push prices for a new rally in respective direction.
Chart with supports & resistances:
0 Comments
No comments yet. Be the first to comment!
Please log in to leave a comment.