Day After First Red Day Short XAUUSD
The day after a first red day (3 days of longs triggered into the market and a reversal) I look for a 3 peaks style trade setup either the following day or two days after. Today is setting up for the 3rd peak going into the New York Session.
Would need a 3rd peak, break structure to the downside and retest of high on lower timeframe (1 Min) before trade is valid. Trade become even more valid if major news propels the move.
Will NOT trade the news, but will wait at least 15 min after.
First target would be the lows of London Session. Next target would be yesterdays low.
Final target would be a 100% expansion of todays high and low.
Would need a 3rd peak, break structure to the downside and retest of high on lower timeframe (1 Min) before trade is valid. Trade become even more valid if major news propels the move.
Will NOT trade the news, but will wait at least 15 min after.
First target would be the lows of London Session. Next target would be yesterdays low.
Final target would be a 100% expansion of todays high and low.