XAUUSD - Monday 06/09/2021 - Short Idea

6 ก.ย. 2021

In the previous week, the price moved to 1830 as predicted, touching 1833.80. Right now, we have a confirmed reversal on our system, which can be overturned if the price breaks above 1834. Above 1834 we shall trade a breakout. If a breakout occurs we expect the price to touch 1904 (This will be our target for long positions). For now, we will be shorting the market, expecting the price to go up to 1763.5.
1827.6 is our entry, and 1835 is our Stop loss. We expect the price to move to 1805 before we see any rebounds. We consider the current pullback to be a reversal of the trend on H1 (it is not a correction). Therefore from here on, we will be selling.