XAUUSD Gold to 1820 ENTRY 2Confluences
- Break in market structure
- Multiple rejections
- Approaching unmitigated supply
- Price Imbalance Fill?
- Divergence
- Smart Money Technique
- Asian & London double bottom cleared
Xauusd1hr
Gold, expect reaction to the Key LevelXAU/USD is ranging now, there is no direction certain for now. But if the price will hit the Key Level, we would be looking for a nice scalp sell.
XAUUSD Weekly View: Remain bearish testing major resistanceSell below 1250.00. Stop loss at 1310.00. Take profit at 1125.00.
Reason for the trading strategy:
We remain bearish below 1250 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1125 support (swing low support, Fibonacci extension, Fibonacci retracement).
RSI (34) has made a bullish exit and warns off a potential further rise.
Stochastic (21,5,3) is seeing major resistance at 94% where we expect a reaction from.
