XAUUSD Potential Short
Updated
1. Daily Swing High and Demand Zone Confluence
2. Potential Head & Shoulder Transition ( Not confirm yet)
3. RSI Divergence
4. Break of 20EMA
5. Diminishing Strength on the Bullish Candles
Plan: Wait for Price to break the Trendline and Neckline of Potential Head & Shoulder before looking to enter Short.
Be careful of headwind at about 1231.682 level
2. Potential Head & Shoulder Transition ( Not confirm yet)
3. RSI Divergence
4. Break of 20EMA
5. Diminishing Strength on the Bullish Candles
Plan: Wait for Price to break the Trendline and Neckline of Potential Head & Shoulder before looking to enter Short.
Be careful of headwind at about 1231.682 level
Note
I have not trigger a trade yet.because price action at 1242.566 is too weak to warrant a trigger. but if you are a risk taker and entered on the break. There is nothing to be worry about.
Price action still favors the Bear (although anything can happen in the market). LL and LH is still brewing nicely on the chart. Keep calm and follow the gameplan.
What is the worse case scenario that can happen? Stop loss is reach, the trade closes and you lose your initial risk that you have accepted. no big deal. :D
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.