XAU/USD : correction before further dive.
After the strong bearish move, a correction back to recent SnR level could be expected at coming weeks.
Therefore personally will wait for the price to pull back to around 1810 for a bearish continuation to have a better risk reward. Next support will be around 1680. If bearish movement are overwhelming, price could straight dive to 1680 support without a pull back too. So will anticipate with the market movement, react accordingly.
Reason to have a sell setup at 1810 is because it align to a mini SnR level and also on the bearish channel resistance, possible align with the 200MA as resistance.
What do you guys think? Everyone are welcome to leave your ideas on the comment below.
#ImABeginner #StillLearningEveryday #ExchangingIdeas #AppreciateYourTimeAndIdeas
Therefore personally will wait for the price to pull back to around 1810 for a bearish continuation to have a better risk reward. Next support will be around 1680. If bearish movement are overwhelming, price could straight dive to 1680 support without a pull back too. So will anticipate with the market movement, react accordingly.
Reason to have a sell setup at 1810 is because it align to a mini SnR level and also on the bearish channel resistance, possible align with the 200MA as resistance.
What do you guys think? Everyone are welcome to leave your ideas on the comment below.
#ImABeginner #StillLearningEveryday #ExchangingIdeas #AppreciateYourTimeAndIdeas
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