supertrader72

supertrader72

Despite being an Up Trend, XAUUSD still has a possibility to drop down to the 62% retracement line.

supertrader72

XAUUSD is moving towards the 50% retracement per analysis. If it breaks the 50% then down to 62%. Overall, XAUUSD is still in an up trend which can't be ignored. A correction is necessary.

supertrader72

A few of high impact news tomorrow and it will determine if XAUUSD will continue its trend or break further correct itself tomorrow. If it breaks 3300, the probability it will drop further for correction is highly probable. If not then it will continue its trend to the upside.

supertrader72

Institutions reduced their long contracts last week. I am bearish XAUUSD. Getting a correction around 3380 - 3400 is a good supply area. So, Buyers beware.

supertrader72

XAUUSD created a new HL today. Correction is over. The continuation of the trend will continue until it creates a new LH if it chooses. Otherwise, I am going to remain bullish with XAUUSD.