Potential Shark Forming 🦈🦈

20 ene 2022

XAUUSD - Potential Shark forming, I love the C point when its at the 1.618 because the move is normally exhausted, here we can see EQL's and bearish momentum (Which also confirm a possible pullback) Along with rejection from the daily resistance line, lots of confluence here for a short.

However price could still go higher because we do have a HTF cup/handle pattern/HTF is bullish so we may see more push to the upside before a drop (Theres plenty of imbalance above and below) however with these confluences I'm happy to risk this trade and if I get stopped I'll enter from the next zone above!

Let me know your thoughts!

* Disclaimer **

These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.