XAU/USD going as planned, could the bottom be in? @SmileyTrades
Hello Traders!
Hoping to provide a short term update for you as opposed to the Longer Timeframe analysis I did previously potentially signaling a bottom.
So far, Gold has been trading the Nested MMs beautifully, but we are still waiting for the 2nd Traditional Series setup will reach target. With recent price action being a consolidation above previous resistance, we can start to feel confident in Longs.
Key levels are on the chart...there is, of course, the Opposing MM series in play and we must pay attention to that. I am expecting we break the Short Series and have some strong resistance in between $1,875 - $1,925 at the ATWHWB.
I'll link my previous analysis of the larger timeframe to this post for your reference!
Happy Trading, always manage risk.
Quality in trading is the ability to react to one's own psyche
Hoping to provide a short term update for you as opposed to the Longer Timeframe analysis I did previously potentially signaling a bottom.
So far, Gold has been trading the Nested MMs beautifully, but we are still waiting for the 2nd Traditional Series setup will reach target. With recent price action being a consolidation above previous resistance, we can start to feel confident in Longs.
Key levels are on the chart...there is, of course, the Opposing MM series in play and we must pay attention to that. I am expecting we break the Short Series and have some strong resistance in between $1,875 - $1,925 at the ATWHWB.
I'll link my previous analysis of the larger timeframe to this post for your reference!
Happy Trading, always manage risk.
Quality in trading is the ability to react to one's own psyche
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