XAUUSD Anlysis EP3
The price has begun by attempting to break below the FTR. After that fakeout, the FTR can not hold anymore. I expect the price to retest the weekly CPR at 2508.5 and then drop again, breaking below the FTR and holding until 2480, when the price will meet support, and a reversal might happen.
So, Enter your short positions around 2508.5, putting your stop loss at 2513.5 and take profit at 2480. For those who wish to exit early, exit at 2488. However, if the price holds above 2513.5, then consider buying on a retest of 2508.5.
Currently, the market bias is bearish. Entry is at 2508.5. The risk-to-profit ratio is huge on this one. Enjoy.
So, Enter your short positions around 2508.5, putting your stop loss at 2513.5 and take profit at 2480. For those who wish to exit early, exit at 2488. However, if the price holds above 2513.5, then consider buying on a retest of 2508.5.
Currently, the market bias is bearish. Entry is at 2508.5. The risk-to-profit ratio is huge on this one. Enjoy.
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