XAUUSD Short
Guys here is my analysis for intra-day trade. Short XAUUSD from 1211.
TP 1 - 1202.3 (31.85% fib retrace)
TP 2 - 1193.9 (61.8% fib retrace)
We have completed a 1,2,3,4,5 elliot wave, and I believe entered into the first "A" downward run. We are also at the top end of the 2 stdandard deviation linear regression.
200 EMA is sloping upward and price action above both 200 EMA and 50 EMA which shows longer-term upward trend, however it is time for a retrace in my opinion.
TP 1 - 1202.3 (31.85% fib retrace)
TP 2 - 1193.9 (61.8% fib retrace)
We have completed a 1,2,3,4,5 elliot wave, and I believe entered into the first "A" downward run. We are also at the top end of the 2 stdandard deviation linear regression.
200 EMA is sloping upward and price action above both 200 EMA and 50 EMA which shows longer-term upward trend, however it is time for a retrace in my opinion.
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