XAUUSD - Bearish Bias Still
Updated
On a higher TF the trend is bearish.
Price hit the 0.5 - 0.618 zone as retracement and continues to push downward.
Price hit the supply zone pushing further down.
Looking to open SHORT trades.
A break of structure already happened at 1706.240 on 1H tf.
As the next lower low is formed, mark that with fibs, as the price retrace upwards, open short at 0.718 - 0.886 zone.
On 1H, we mark 1724.832 as first point of fibs (1).
We wait for the lower low to be formed (2nd fib point - 0).
Open short at 0.718 - 0.886 zone.
Price hit the 0.5 - 0.618 zone as retracement and continues to push downward.
Price hit the supply zone pushing further down.
Looking to open SHORT trades.
A break of structure already happened at 1706.240 on 1H tf.
As the next lower low is formed, mark that with fibs, as the price retrace upwards, open short at 0.718 - 0.886 zone.
On 1H, we mark 1724.832 as first point of fibs (1).
We wait for the lower low to be formed (2nd fib point - 0).
Open short at 0.718 - 0.886 zone.
Note
my bad. was not able to update lower tf entries. hard to analyze so many assets :D its too much lol
the idea stays true still about our bias.
Note
will bounce at 1661
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