XAUUSD Trade Setup
Gold just made a higher low on the daily after breaking the previous high (2009.56).
One or two scenarios must happen:
1. The new higher high(2146.42) will be broken before another higher low is formed (must be above the current higher low @1972.90)
NB: On the 1H TF we just broke above the EMA, had CHOCH, followed by a pullback
But—
2. A break of the 2019.55 will see price melting towards higher low(1972.90), a break of that level, we are in an downtrend.
One or two scenarios must happen:
1. The new higher high(2146.42) will be broken before another higher low is formed (must be above the current higher low @1972.90)
NB: On the 1H TF we just broke above the EMA, had CHOCH, followed by a pullback
But—
2. A break of the 2019.55 will see price melting towards higher low(1972.90), a break of that level, we are in an downtrend.
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