Gold (XAUUSD) Bearish Setup and thoughts!
As you can see in above chart of Gold is clearly shows market Retest the broken
Structure of Trendline, Weekly PP and Hull MA. So we can see some bearish bias.
But last 4hourly candle shows some bullish momentum and rejected at $1947 level.
Moreover, Market didnt closed any 4h below and Daily below $1920.
According to my thoughts Market is TRAPPED between these two Levels ($1947 to $1920).
So,
Enter only if Market will break and closed below $1920.
Check Price action at the Conflict area of Broken structure.
Keep an eye on daily close should be below at $1931.
Goals,
$1904
$1871
Every system has a limitation!
Structure of Trendline, Weekly PP and Hull MA. So we can see some bearish bias.
But last 4hourly candle shows some bullish momentum and rejected at $1947 level.
Moreover, Market didnt closed any 4h below and Daily below $1920.
According to my thoughts Market is TRAPPED between these two Levels ($1947 to $1920).
So,
Enter only if Market will break and closed below $1920.
Check Price action at the Conflict area of Broken structure.
Keep an eye on daily close should be below at $1931.
Goals,
$1904
$1871
Every system has a limitation!
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