XAU/USD NY Session. Short. R:R - 3:1

28 oct 2021

Here I've posted some analysis for the next trading day up until NY session tomorrow. As it stands I am longer term bearish on gold since the price closed within the bearish daily trendline indicating bears are still in charge. As gold enjoys to take out the daily low and high I believe we are set for a bearish move to grab more liquidity to the 1790 region, this will be used to help fuel one final push up above 1800. Enter the trade now with a tight stop loss giving you 3:1 risk reward. If price reaches the desired area around 1790 look for any sort of wick on the 15m or 30m timeframe. Buy at this point with a tight SL and target 1807/8 region as showed and hold during the Asian session. At this point we will begin the last move down towards the 1680 area as the last bearish order block will be added. Good luck.