Hello everyone! We are currently eyeing a potential short opportunity on XAU/USD Here's why:
Fresh Supply Zone: We've identified a fresh supply zone that has recently been tested. This area often presents a strong resistance level, making it a favorable point for a short position.
Fibonacci Level 50%: The 50% Fibonacci retracement level aligns with our target zone, adding confluence to our trade setup. Fibonacci levels are widely watched by traders and can act as key support or resistance areas.
Nominated Order Block: The presence of a nominated order block suggests a concentration of orders in the vicinity of our target level. This can act as a significant obstacle for price movement, making it a compelling area to consider for a short trade.
Keep a close eye on this XAU/USD setup, and be ready to execute your trading strategy when the conditions align. Remember to manage your risk and implement proper risk management techniques to protect your capital. Happy trading!
Fresh Supply Zone: We've identified a fresh supply zone that has recently been tested. This area often presents a strong resistance level, making it a favorable point for a short position.
Fibonacci Level 50%: The 50% Fibonacci retracement level aligns with our target zone, adding confluence to our trade setup. Fibonacci levels are widely watched by traders and can act as key support or resistance areas.
Nominated Order Block: The presence of a nominated order block suggests a concentration of orders in the vicinity of our target level. This can act as a significant obstacle for price movement, making it a compelling area to consider for a short trade.
Keep a close eye on this XAU/USD setup, and be ready to execute your trading strategy when the conditions align. Remember to manage your risk and implement proper risk management techniques to protect your capital. Happy trading!