Going into next week’s trade, there will be a key resistance area in view for the XAU/USD:
Weekly 38% Retracement, 1867.25
Weekly EMA, 1870.62
Here's the trade:
1) Sell 1866.75
2) Initial Stop Loss, 1872.50
3) Profit Target, 5.75 @ 1:1 risk vs reward ratio
This market is in rotation. Selling the upper end of the four-week range w/resistance levels isn't a bad trade.
Weekly 38% Retracement, 1867.25
Weekly EMA, 1870.62
Here's the trade:
1) Sell 1866.75
2) Initial Stop Loss, 1872.50
3) Profit Target, 5.75 @ 1:1 risk vs reward ratio
This market is in rotation. Selling the upper end of the four-week range w/resistance levels isn't a bad trade.
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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.
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.