Monday 4th October XAU/USD intraday sells - 4.5:1 RR
Gold is still extremely bearish due to bullish dollar sentiment because of the 3.5T fiscal stimulus package. This trade is a small scalp for the
NY session whereby you enter the trade at 1753, and set your SL just below the previous peak at the top of the range since institutions will sell at the price. In the short term target 1736.8 however once the price drops below 1747 move your SL to there, this is a technical line which will be touched again today or tomorrow therefore will secure you profits. We are still long term bearish to collect sell side liquidity at the 1680 level
NY session whereby you enter the trade at 1753, and set your SL just below the previous peak at the top of the range since institutions will sell at the price. In the short term target 1736.8 however once the price drops below 1747 move your SL to there, this is a technical line which will be touched again today or tomorrow therefore will secure you profits. We are still long term bearish to collect sell side liquidity at the 1680 level