XAUUSD 12/1/24

2 days ago

XAUUSD remains our second pair as usual. Orion is clear as always, giving us a bullish bias to target the highs. Similar to EU, we only have one high to aim for, so the options are the same as mentioned in that write-up. We could pull back from the current position, creating a new low in the process, which would lead us into the lows and present a long entry opportunity in line with the bias. Alternatively, we might take the high first and then drop down into the lows, which would also provide a potential long entry.

Overall, we are anticipating a higher shift and need to monitor the lows for this to materialize. Follow Orion, stick to your plan, and manage your risk properly.