XAUUSDXAUUSD 2021 Jun 21 (Intraday)
Last week we saw re-distribution unfolded.
As market pauses at 50% 1761 of a previous trend, possible scenarios:
1) Short covering: long opportunity for a quick trade
2) Price goes beyond 1761 and target for 1731, and possibly 1682.
If you see shortening of thrust, prepare for long opportunity.
Wait for a test of a higher low for entry. Manage stops wisely since
price returned to a down channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.