We can see XAUUSD broke daily uptrend trendline after testing weekly downtrend trendline. A break below 1300 level should warrant a short position after retesting support turned resistance, targeting 1211 level (previous structure and 50% retracement). Else we should wait for a break of weekly downtrend to opt for long positions.




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Nice move down +500 pips, to 38.2% retracement

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