XAUUSD Change direction
Updated
We can see the gold metal fakeout the bearish trend and went back under the trendline as sign of strong correction or total change in direction as we might see in the coming weeks
But from this moment we can focus on the selling and supply area of 61.8% of the last downside wave will be at 1736.50 we can put our sell limit on that level and from there we might see strong downside momentum to the levels of 1714 and it might be extended to 1709 the 85% Fibo on the daily chart
From those numbers we can watch for the price action and decide to take long and swing buy orders
But from this moment we can focus on the selling and supply area of 61.8% of the last downside wave will be at 1736.50 we can put our sell limit on that level and from there we might see strong downside momentum to the levels of 1714 and it might be extended to 1709 the 85% Fibo on the daily chart
From those numbers we can watch for the price action and decide to take long and swing buy orders
Trade active
With our stoploss a hourly candle closure above 1742 1st Target 1714
2nd Target 1709
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