XAUUSD (Gold) - Sellers Activated? What's Next?
Hi Traders. On Monday, I talked about multiple scenarios on Gold as the Price Action was relatively choppy on Monday. One of the scenarios i mentioned, was a break below 1810 area.
Yesterday, price found some really significant Bearish momentum, broke below 1810 dumped all the way through 1864 for nearly 500 points.
Because of the momentum, the chances of Gold continues to move lower is high, but just be aware that during such a strong sell-off candle, most retail traders will have their positions 'stuck' in between.
In cases like this, if price continues to push lower then the follow through momentum will definitely be strong, but if at any point price does some deep pullback, that usually lead to some significant short-term reversal.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Yesterday, price found some really significant Bearish momentum, broke below 1810 dumped all the way through 1864 for nearly 500 points.
Because of the momentum, the chances of Gold continues to move lower is high, but just be aware that during such a strong sell-off candle, most retail traders will have their positions 'stuck' in between.
In cases like this, if price continues to push lower then the follow through momentum will definitely be strong, but if at any point price does some deep pullback, that usually lead to some significant short-term reversal.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
