XAUUSD Sept 6 Outlook and opportunities

As shared yesterday, market was on a downtrend and has sailed down without hitting my sell entry. While the trend is still with the bears, I would expect some slight pullback during Asia Day for the market to gain some momentum before pushing down to 1900 region.

Here's the key zones to watch for the day.

I'd be interested to look for some longs if price create a reversal candle around 1921-23 region.

I'd have a queue around 29-31 region for shorts. Why around this region? The reason behind this figure is because the bearish engulfing candle spans from 1939 - 1925, a retest of 29-31 is about 40-50% of a pullback, hence there's more likely hood of it coming to this region than higher regions. However we would want to be more attentive to the market if price breaks above the 1933 region

As usual, please DYODD before risking money you can not afford to lose. The idea posted are mainly of my personal view and is part of my trading diary. I hope it benefit you in some way. If you like the idea, do give me a like and if there's room for improvement do post it in the comment section.