XAUUSD Update 22-27/08/21
Going into next week XAUUSD should be considered one of the best trade of the weeks if market unfold according to a markets structure and some fundamentals.
After the fall of the XAUUSD, market gave us this long impulse to the upside. This impulse was without a doubt an impulsive move without showing any weakness to the downside.
Going into next week many retail traders just like myself view the gold market to be on an important supply zone and are either in the sell to the downside or waiting for what we all know a double top formation.
Market makers knows are the places we would like to anticipate and all the patterns so the best area to enter the market is to wait and let the market come up and take all the liquidities of stop losses for the sells and then join the market makers for the big selling opportunity.
My bias on gold going into next week is a buy bias and in the mid week bias will be flipped the sell side to partake in the big drop IF and only when market tends to respect the structure it has provided us.
I'm not an expect so trade with care. Hope we all will have a great trading week.
Dion.
After the fall of the XAUUSD, market gave us this long impulse to the upside. This impulse was without a doubt an impulsive move without showing any weakness to the downside.
Going into next week many retail traders just like myself view the gold market to be on an important supply zone and are either in the sell to the downside or waiting for what we all know a double top formation.
Market makers knows are the places we would like to anticipate and all the patterns so the best area to enter the market is to wait and let the market come up and take all the liquidities of stop losses for the sells and then join the market makers for the big selling opportunity.
My bias on gold going into next week is a buy bias and in the mid week bias will be flipped the sell side to partake in the big drop IF and only when market tends to respect the structure it has provided us.
I'm not an expect so trade with care. Hope we all will have a great trading week.
Dion.
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