Even after the the bullish movement of yesterdays news, the movement still looks corrective. Today's USD news were positive which gives a chance for the USD to recover. we're still looking for a further movement to the downside till the pair takes out the liquidity at the support level below and finishing our "abc" which can be wave (W) of wave Y.
The correction should be over by the moment, short positions with a low risk trade is recommended.
The pair looks bullish on the short term as it's moving in a wave c of 2, so we expect the news to weaken the USD, after that we should be looking for a chance to open short positions targeting the support level below and maybe even a little more.. If you have different ideas please share them with me, I'll appreciate that ❤️
A short position is recommended after the break of the ending diagonal of the interior wave c in wave (B), wave (C) should end near the end of wave (A) , or slightly beyond it. let me know what you think about this trade down below in the comments section, you can share your ideas too. Wish you all a profitable week!
I'm sharing this Idea for going short on XAUUSD with you, Tell me your opinion about this trade in the comments section.
What's your opinion about this trade? share your ideas in the comments and lets discuss them..