XAUUSD inside day, a better short than the long case.
XAUUSD has an inside day after an important shooting star, if it's able to break to the upside, it means the uptrend remains intact.
While there will be a bearish Gartley pattern in 4hr chart with a potential short entry @ 1297, so even if if it's able to break to the upside,
to long this inside day means we can only get the 1:1 1st kick above 1300 level, which is not really a good idea.
On the other hand, if it's able to break to the downside, it can easily break 1280 as the short selling continuation, and I think it's a better trade as the 21ema is still @ 1273,
so we can put the 1st kick bid around 1273 to play the price correction, although it's still less than 1:1, we can turn to smaller time frame to look for a better entry and better out.
While there will be a bearish Gartley pattern in 4hr chart with a potential short entry @ 1297, so even if if it's able to break to the upside,
to long this inside day means we can only get the 1:1 1st kick above 1300 level, which is not really a good idea.
On the other hand, if it's able to break to the downside, it can easily break 1280 as the short selling continuation, and I think it's a better trade as the 21ema is still @ 1273,
so we can put the 1st kick bid around 1273 to play the price correction, although it's still less than 1:1, we can turn to smaller time frame to look for a better entry and better out.