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XAUUSD Short Trade Setup

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Hello traders.

I hope this time is the starting of down impulse. I haven't put an entry order yet. I'm waiting for an up move as C wave inside of correction. Then I will place my order. Here is my medium-term forecast.

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I have put an entry order. Target is 1120.

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The correction might be over. There is also a chance for one more up move after the pull-back to the trendline as X wave because there is no divergence. 0.618 retracement can be good reversal point. I will take a short trade when it breaks the yellow trend line.

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I missed all short opportunities on Thursday and Friday because I wasn't in front of the computer. I hope you took the breakout trade, that I showed you in video analysis on Thursday. Anyway, I'm in the trade now.

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If you took the break-out trade like I showed in the analysis video on Thursday, move your stop-loss to breakeven and leave it alone. If you took the trade with entry order like me, just wait.

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I moved the stop-loss to breakeven because daily structure between yellow lines looks like a perfect long trade setup. I will take a long trade after breaking blue line in the 1H chart. If you took the trade from the top 1320 can be good stop-loss.

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Both directions are very possible, just leave it alone. My stop-loss at the breakeven. Please watch today's analysis video on Youtube for details. Because it would be very complex to explain by drawing.

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It came down to the trendline. Now it can bounce back or make a correction. I will take another short trade when I see a good trade setup. My target is still 1120.