XAUUSD Short 11/08/2021
I approach trading as an art. I approach it in a neutral state of mind.
With a free state of mind, I acknowledge that I don’t know all the variables. However, I try to come up with what I can spot from what I’ve learned, what’s in my knowledge bank. Here’s what we know about GOLD
- Reached a resistance zone
- Broke bullish structure [See 30 minutes time frame for clearer data]
- H4 Bearish Evening Star candlestick pattern
- Expecting a retracement at 1790.00 area to go lower
The question remains, when will the retracement stop for the market to go lower?
We can answer this question with 2 words ORDER BLOCK
At a point of interest, the bank and financial institution create a block of orders and they usually are both buy and sell orders. Seeing the H1 of XAUUSD, I’m expecting Gold to retrace, tap into 1791.50, I'll then enter. I’d love to go more into details but it’ll be too boring.
PRE CALCULATED RISK: 20 points
Feel free to comment. I’d love to hear your feedback fellow traders. You can private message me with any suggestions or questions. See you in the next post.
With a free state of mind, I acknowledge that I don’t know all the variables. However, I try to come up with what I can spot from what I’ve learned, what’s in my knowledge bank. Here’s what we know about GOLD
- Reached a resistance zone
- Broke bullish structure [See 30 minutes time frame for clearer data]
- H4 Bearish Evening Star candlestick pattern
- Expecting a retracement at 1790.00 area to go lower
The question remains, when will the retracement stop for the market to go lower?
We can answer this question with 2 words ORDER BLOCK
At a point of interest, the bank and financial institution create a block of orders and they usually are both buy and sell orders. Seeing the H1 of XAUUSD, I’m expecting Gold to retrace, tap into 1791.50, I'll then enter. I’d love to go more into details but it’ll be too boring.
PRE CALCULATED RISK: 20 points
Feel free to comment. I’d love to hear your feedback fellow traders. You can private message me with any suggestions or questions. See you in the next post.
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