XAUUSD short from the pull back (long term trade)
1. The price hasn't updated the new height but broke the trend in a downward movement BoS (now we are in a downtrend);
2. We are waiting for a pull back to start selling till next order block;
3. the potential short entry is 50% of the wick of the previous upper candle;
4. TP bullish order block;
5. I see high propabilty of continuation of down trend because price has reached 1.618 - Fibonacci extansion key level (potential revers level);
6. However, we are definitely on an uptrend, so it is not advisable to go against the trend until there are clear signs of a reversal. The first signal for a reversal for me will be the breaking of two bullish order blocks - breaking key levels;
7. If we see good regection from this level it means that price respects it and we can look for longs from this moment;
8. TP for long position will be upper key levels.
2. We are waiting for a pull back to start selling till next order block;
3. the potential short entry is 50% of the wick of the previous upper candle;
4. TP bullish order block;
5. I see high propabilty of continuation of down trend because price has reached 1.618 - Fibonacci extansion key level (potential revers level);
6. However, we are definitely on an uptrend, so it is not advisable to go against the trend until there are clear signs of a reversal. The first signal for a reversal for me will be the breaking of two bullish order blocks - breaking key levels;
7. If we see good regection from this level it means that price respects it and we can look for longs from this moment;
8. TP for long position will be upper key levels.
Aviso legal
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