XAUUSD Potential Downward Movement
EDUCATIONAL PURPOSES ONLY
- Daily trend determined as Bullish
- 4H Timeframe has formed a bearish market structure shift
- On the lower timeframes we can see that market structure is bullish but the movements are not impulsive at all. The reason for that is → We're retracing towards the higher timeframe (4H) Order Block which acts as zone of Supply too.
ENTRY: The Entry is on the 4Hourly Supply zone and lies in between the golden Fibonacci zone.
Stop Loss: Above the Swing high of the range
Take Profit: Just below the -68% level of the fibonacci.
Note: If the -27% level on the Fibonacci is hit. I'd suggest taking partials.
And holding the rest of the trade until -68% price level.
Move SL to Breakeven when -27% price level is hit.
- Daily trend determined as Bullish
- 4H Timeframe has formed a bearish market structure shift
- On the lower timeframes we can see that market structure is bullish but the movements are not impulsive at all. The reason for that is → We're retracing towards the higher timeframe (4H) Order Block which acts as zone of Supply too.
ENTRY: The Entry is on the 4Hourly Supply zone and lies in between the golden Fibonacci zone.
Stop Loss: Above the Swing high of the range
Take Profit: Just below the -68% level of the fibonacci.
Note: If the -27% level on the Fibonacci is hit. I'd suggest taking partials.
And holding the rest of the trade until -68% price level.
Move SL to Breakeven when -27% price level is hit.