XAUUSD Short Sentiment Based on H4 and Daily Time Frame
I Believe XAUUSD is in a strong Supply Zone and will short based on H4 and Daily Time frame analysis.
This is a higher time frame analysis so keep in mind market movement will occur on smaller time frames.
Stochastic and RSI are peaked on H4 as well as the daily. Patience will pay.
I expect XAUUSD to retrace to at least the 50% FIB retracement level down to 61.8% level then will buy long term based on Monthly time frame analysis.
Once it gets inside the retracement level between 50% and 61.8% I will be looking for longs.
Short small lot. Leverage correctly and trail stop loss into profit. Do not over leverage on higher time frame analysis.
This is not investment advise but trade this idea at your own risk.
Follow me for more analysis on XAUUSD as it is my favorite Metal to trade.
Let me know your thoughts on my analysis.
This is a higher time frame analysis so keep in mind market movement will occur on smaller time frames.
Stochastic and RSI are peaked on H4 as well as the daily. Patience will pay.
I expect XAUUSD to retrace to at least the 50% FIB retracement level down to 61.8% level then will buy long term based on Monthly time frame analysis.
Once it gets inside the retracement level between 50% and 61.8% I will be looking for longs.
Short small lot. Leverage correctly and trail stop loss into profit. Do not over leverage on higher time frame analysis.
This is not investment advise but trade this idea at your own risk.
Follow me for more analysis on XAUUSD as it is my favorite Metal to trade.
Let me know your thoughts on my analysis.
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