Smart money Concept
We are looking for a pullback after the descending channel that the market gave us in order to go for long position.
We are looking for a swing long-position on btc after an aggressive drop. If the price drop and break aggressively the retest area the trade is invalid, but if the price keep respect the retest area go for long.
Gold can go both sides. So the best way to catch the move is to be patient and wait for the retest after the break-out.
We can see the break down on bearish flag. The bearish engulfing candle area will be our sniper entry and the 0 & -0.618 extension our target!!! Simple analysis but i am very confident that the price will hit our target until the end of this week.
As we can see we have a bullish flag respecting also the 30' SMA. We are waiting also for bad USD news. Confirmations: 1) 0.618 area of fib 2) Support of 15,30' SMA 3) Broke the 4h trend-line 4) bullish flag 5) respect engulfing candlestick