Hey guys (new on MyFxBook), I've attached a post I sent to my academy members.


If you look at XAUUSD, there are a series of key technical confluence factors which allow you to assess market value, or how good something is to short based on current rises.

We are down trending long term and touching into key price rejection. I am therefore short lightly. Slight room to 2050 IMO.

Just remember, you cannot pretend that your entries cannot go higher. Although Gold is slowly weakening (lower highs, lower lows) you must associate area with relevant risk.

To be clear:

- Decrease of demand over time after rejection of ATH (Downtrend on higher TFs).
- Key price action levels hit (orders going into the market short, longs starting to liquidate).
- Key price rejection (You can now see lower TF sell bars and rejection for early entry confirmation.
Attachments:

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We know nothing for sure. To make money, we don't need to.