XAUUSD - GOLD SHort short term retrace

Hello all - DuncanForex.com here with another trade idea

Gold - has finally rolled over - I'm in at 1436.2 and 1431.3

I am looking to take one position all the way down to the previous level of support. - of 1408

On the 4 hour chart that closes at 7:00 am BST - it should print a lovely bearish pin bar

If the low is broken of that candle - I will take a third entry too aiming back down to 1362 area.

I moved the dynamic support line out of the way slightly, however you can see that price broke the trend line, then continued higher however underneath it - finally coming to pause at the 1440 area


EURUSD Short is also looking good.


This could potentially be a big sell off in gold as if you look at JPY pairs - they are poised to head higher following the printed bullish pin bars from back in December / January.

USD JPY could be headed up to the 115 area

Market moved that fast - 2nd entry hit Take profit of 1421 in 25 minutes (which is a nice change) as some of my recent trades have been taking a week to finish.

Thanks for looking

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Thanks

Duncan

İşlem aktif:

after coming all the way back to the entry point, trades have continued lower. (thankfully).
Additional trade entry at 1430 - 2 currently live.

İşlem aktif:

Hello all - just taking a third entry at 1424.60 - at resistance on the 30 minute chart - stops above 1427