XAUUSD - WEEK 9, 2023.
Updated
Hey again,
I also see a highly probable set up that may occur here on gold this week, after Fridays daily engulfment I do see price moving higher into some recent highs for some liquidity.. Within my first POI (1849-1840) we have a few confluences to support this bias and set up, first we have Fridays bullish engulfment, then week 7's high aligned with general support and resistance (at my poi), then a unfiled order block from Friday and lastly a alignment with the 61.8 retracement level measured from the most recent leg to high.
So my eyes are peeled here on gold too, watching it closely looking for any sort of confirmation before scale down into lower time frames and seeking a high R:R entry.
Also, should price act as predicted, I'll be targeting $1870 - $1877.
I also see a highly probable set up that may occur here on gold this week, after Fridays daily engulfment I do see price moving higher into some recent highs for some liquidity.. Within my first POI (1849-1840) we have a few confluences to support this bias and set up, first we have Fridays bullish engulfment, then week 7's high aligned with general support and resistance (at my poi), then a unfiled order block from Friday and lastly a alignment with the 61.8 retracement level measured from the most recent leg to high.
So my eyes are peeled here on gold too, watching it closely looking for any sort of confirmation before scale down into lower time frames and seeking a high R:R entry.
Also, should price act as predicted, I'll be targeting $1870 - $1877.
Note
WEEK 10* IF YOU'RE FROM AUSTRALIA LIKE MYSELF.
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