XAUUSD: Nice Area To Take Shorts, Few Things To Consider! #XAU
Traders,
Nice shorting opportunity here, theres a few things to consider. There is a potential butterfly in play, which may give us profit taking targets in the future. Whether we hit these prz's or not doesn't matter, as the Butterfly pattern isn't complete and confirmed.
However if we are short and come to these levels, people might buy up these positions, so take note of the price levels on the chart for future reference if you have an interest in shorting this thing.
Regards
Tom
Nice shorting opportunity here, theres a few things to consider. There is a potential butterfly in play, which may give us profit taking targets in the future. Whether we hit these prz's or not doesn't matter, as the Butterfly pattern isn't complete and confirmed.
However if we are short and come to these levels, people might buy up these positions, so take note of the price levels on the chart for future reference if you have an interest in shorting this thing.
Regards
Tom
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