Dear traders,

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.

Happy trading,

Colibri Trader


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