Hello traders,
We once again bring you a possible opportunity to bank some pips !!
This time the pais is XAUUSD , wich at the moment is at a very strong Resistance since 2016.
At the 1D chart we can already see a Doji candle, wich can indicate the reversal we are looking for, however i recomendo to wait for confirmation before entering.
Better be safe than...
Start of the week, and we are expecting to get a a rise of the price in this pair.
We have two very strong Stress zones defined where the price have been bouncing.
The price will respect this zones for a while, and if we see a break to to the upside, we could enter in a long position with a Risk Reward ratio of 4.3 , However we have to wait for a confirmation...
JPY pairs have been bearish in the past days, but here, we saw the price rejecting a very strong stress zone.
We expect the price to go up again, however, we need get confirmation with a breakout in shorter time frames (4 h and 1h).
If we see a rejection we can bank some pips with a ratio of 3.5
Trade with caution,
Good luck,
Dracma Trading
We will probably see a reversal in this pair, but we should wait for a reversal candle before we enter.
15min time frames for entry confirmation.
Best of lucks,
Dracma Trading
This pair has been very weak in the past days, but at this moment, it is at a major daily and weekly support.
Let's wait for the reversal with some clean reversal candles before we enter.
Look for entry in shorter time frames.
Good Luck,
Dracma Trading
