SHORT - XAUUSD (D) (30 May 2023)
Updated
Position Trade - XAUUSD
The Monthly Chart shows that there are SHORT opportunities as it is the only 2nd test of the HTF zone
For a cleaner look of the MN Chart,
In the Weekly chart,
- There is little probability that the price will correct itself before coming down from the WK zone as the trade is already playing out.
In the Daily chart,
- Due to strong price going down, there is little probability that price will retrace back to the D1 zone for another sell in near future.
- Hence, we can expect another zone to be formed for a quality sell if price goes back to the zone
In the H4 chart,
- for smaller risks, wait for price to break a H4 demand zone before placing SHORT trade/s
The Monthly Chart shows that there are SHORT opportunities as it is the only 2nd test of the HTF zone
For a cleaner look of the MN Chart,
In the Weekly chart,
- There is little probability that the price will correct itself before coming down from the WK zone as the trade is already playing out.
In the Daily chart,
- Due to strong price going down, there is little probability that price will retrace back to the D1 zone for another sell in near future.
- Hence, we can expect another zone to be formed for a quality sell if price goes back to the zone
In the H4 chart,
- for smaller risks, wait for price to break a H4 demand zone before placing SHORT trade/s
Trade active
In the Daily Chart, price has reacted off Daily Supply zone (2)In the H4 chart, price is likely to bash through the H4 demand
Trade active
Trade closed: stop reached
XAUUSD trade was a loss. Gold is a beast indeed.
This analysis will be closed and re-analyzed again, and focus on longer term trades for price to breathe, instead of intraday trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.