Last week I shared with you my thoughts on GBPUSD.
There was a pin bar in a major supply zone.
The trend did change and we have seen a sharp reversal.
I have managed to participate in the downfall and profit from it.
Currently, I am not holding any short or long positions in this market.
XAUUSD (Gold) Trading Analysis 13 September, 2020
Today, I am looking at the gold market.
It looks like we might see some more selling before the trend resumes (if it resumes).
There was a bullish rejection candle followed by a small bearish engulfing candle.
I am looking at a potential sell-off down to the demand zone of 1870-1860.
I will be expecting the open and decide if there is a confirmation from the 4H chart will probably short it.
If not, I will just move on.
If price continues its fall down to the level of 1860, I will be looking for either a reversal or a continuation signal.
So, there is some place for manoeuvres and I believe an exciting trading week is ahead of us.
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