- According to the most brokers’ data, more than half of the traders are currently in long positions on XAUUSD. As a result, we recommend considering only Short trades at this time.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- Set Take Profit at the local low, beyond which there is a cluster of orders.
- We see an accumulation of loss buyers above the current price in the right Order Book. This cluster can act as a resistance.
Chart & Analyst Comments
