XAUUSD - H4 - Potential Short Opportunity
Mis à jour
We have recently seen XAUUSD break out above the key $1300 price level which has contained the precious metal for the best part of a year now, however, the momentum to the upside might be weakening (if only temporarily) as we have just put in a new structure low on the H4 chart, violating the previous outside return of the bullish move up.
We are currently trading just below that $1300 level after breaking through it to the downside yesterday and as such I will be looking for a retest of the key level, with a view to entering short this pair if we see the level hold.
Primary target for me would be at the $1275 level (Psych number and in the same zone as the 127.2% extension of the initial pullback leg) with an additional target about $25 lower around the $1250 zone (also the 61.8% retracement of the larger bullish move up)
Evidently tensions between NK & Trump are ongoing, but most assets seem to have gotten used to this environment and many of the knee-jerk reactions are remaining relatively subdued. Let's see how it goes!
We are currently trading just below that $1300 level after breaking through it to the downside yesterday and as such I will be looking for a retest of the key level, with a view to entering short this pair if we see the level hold.
Primary target for me would be at the $1275 level (Psych number and in the same zone as the 127.2% extension of the initial pullback leg) with an additional target about $25 lower around the $1250 zone (also the 61.8% retracement of the larger bullish move up)
Evidently tensions between NK & Trump are ongoing, but most assets seem to have gotten used to this environment and many of the knee-jerk reactions are remaining relatively subdued. Let's see how it goes!
Transaction en cours
Filled on this big spike up from the latest war comments out just now.Transaction en cours
Target 1 hit at $1275
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