XAUUSD PRE-MARKET ANALYSIS 12 APRIL, 2021
OVERALL TREND DIRECTION- BEARISH ON THE DAILY TF. Corrective and ranging on the 4H TF. We can see that price has made a double top pattern and may potenially look to make lower lows to respect the overall move to the downside.
The 2 potential short scenarios this week are as follows.
Scenario 1 will follow a break and retest of that support level to the downside.
Scenario 2 will follow a bounce off that key structure level and a rejection off of the most recent high to the downside, where we can look for short opportunities to continue the bear momentum.
The 2 potential short scenarios this week are as follows.
Scenario 1 will follow a break and retest of that support level to the downside.
Scenario 2 will follow a bounce off that key structure level and a rejection off of the most recent high to the downside, where we can look for short opportunities to continue the bear momentum.
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