XAUUSD - SELL TRADE IDEA
I'm looking to sell Gold for 350 pips. Overall, price is in a clear uptrend however I feel price is currently making a correction; I feel price can drop as low as 2292ish which is the Daily 38.2 Fib Level (Shallow Retracement) before resuming in Bullish momentum. For the past 9 days price has respected my micro down trend and currently price is respecting my 9 and 21 EMA. Today Gold has opened negative and the USD is strong which respects this sell idea. Looking to sell on the break and retest of 2332.250.
However, if price breaks 2348, I'll buy for 150 pips.
However, if price breaks 2348, I'll buy for 150 pips.
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