XAUUSD (Gold) Trade Idea - Time To Determine Our Bias?
In yesterday's analysis, I talked about possible long setup as price shows strength attempting to break above 1860 previous minor resistance structure.
I also talked about the 18ema & 50ema crossed on Monday, which indicate possible short-term to mid-term trend shift. As price finds strength holding above 1860, a push to 1890 - 1900 is possible.
Here are a few criterias for the current long setup:
1.18ema MUST hold above 50ema - We do not trade indicators by itself, but it simply tells us that the short-term directional bias favours Bullish
2. 1860 minor S&R structure is our short-term guideline, anything above 1860 in the short-term i'll be looking for buying opportunity
3. If price finds some sudden selling pressure breaks below the recent low (1848), it will invalidate this long setup
4. Bear in mind, on the Daily chart we're still looking at a downtrend, we're now preparing for a Bullish reversal beforehand
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
I also talked about the 18ema & 50ema crossed on Monday, which indicate possible short-term to mid-term trend shift. As price finds strength holding above 1860, a push to 1890 - 1900 is possible.
Here are a few criterias for the current long setup:
1.18ema MUST hold above 50ema - We do not trade indicators by itself, but it simply tells us that the short-term directional bias favours Bullish
2. 1860 minor S&R structure is our short-term guideline, anything above 1860 in the short-term i'll be looking for buying opportunity
3. If price finds some sudden selling pressure breaks below the recent low (1848), it will invalidate this long setup
4. Bear in mind, on the Daily chart we're still looking at a downtrend, we're now preparing for a Bullish reversal beforehand
Always perform your own analysis and only use this as an educational material. Trade safe and take care.
Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
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