Hello, I hope you all enjoyed the sweet ride to the downside yesterday. Fine! Today, what next? Will the XAUUSD go up or down? I know most of us are contemplating currently the pair's next direction.
Note: no trade for now. Why? It's only because the pair is in an indecision state for now. I mean the accumulation phase. I believe that you know the meaning of this: liquidity accumulation phase.
What Would You Do Now? The answer is waiting. Wait for the breakout of the structure to the upside, the resistance level, as a lower low has formed, and what next is a higher high to form. Once the breakout occurs then it's time to take a trade decision.
My Bias: BUY
Note: no trade for now. Why? It's only because the pair is in an indecision state for now. I mean the accumulation phase. I believe that you know the meaning of this: liquidity accumulation phase.
What Would You Do Now? The answer is waiting. Wait for the breakout of the structure to the upside, the resistance level, as a lower low has formed, and what next is a higher high to form. Once the breakout occurs then it's time to take a trade decision.
My Bias: BUY