Price Action Analysis - XAUUSD - GOLD
There is an ongoing M1 force on the way down, starting on June 2021 from 1900 that will be ending at 1700.
During this time, there was a 5 Bar acceleration on D1 from 11th to 17th of June 2021. This is also a M1 force, due to its large SL amplitude (M1 SL). This new M1 force started soon after the 5Bar, from 15th July 2021 and is ongoing. It will also be completed at 1700, like the 1st M1 force.
Right now, there is D1 force on the way up (trendline on D1). This force is weak, will fail to profit people who are long.
I expect the D1 development to end at 1762.5, as this D1 force was strong for 1ATR. Because of the M1 force against it, D1 force will only go up to 0,25ATR. So TP of D1 is expected at 1762.5.
Next, there is only a M1 game left, to push the D1 players to be stopped out. So now, D1 candles should be going down from now on, to reach 1700.
I suggest an entry at 1762.5 SL 1771, second entry at 1786, SL 1800, TP 1700
For intraday opportunities, I will update you as soon as I see anything relevant to follow the downward trend dynamic.
Stay tuned...
During this time, there was a 5 Bar acceleration on D1 from 11th to 17th of June 2021. This is also a M1 force, due to its large SL amplitude (M1 SL). This new M1 force started soon after the 5Bar, from 15th July 2021 and is ongoing. It will also be completed at 1700, like the 1st M1 force.
Right now, there is D1 force on the way up (trendline on D1). This force is weak, will fail to profit people who are long.
I expect the D1 development to end at 1762.5, as this D1 force was strong for 1ATR. Because of the M1 force against it, D1 force will only go up to 0,25ATR. So TP of D1 is expected at 1762.5.
Next, there is only a M1 game left, to push the D1 players to be stopped out. So now, D1 candles should be going down from now on, to reach 1700.
I suggest an entry at 1762.5 SL 1771, second entry at 1786, SL 1800, TP 1700
For intraday opportunities, I will update you as soon as I see anything relevant to follow the downward trend dynamic.
Stay tuned...
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