So, is it?
The XAUT made a very strong corrective move after a strong bullish move.
It formed a bottom and closed above the moving average, indicating buying strength returning. The low of the Candle that closed above the moving average was not lost in the next few days, so the bottom below will be valid to be defended, but for now it doesn’t make sense to defend it. From the potential entry point up to the resistance above, the R:R is very favorable, and if the price has momentum it can go even further.
In the market, it’s a matter of probabilities—over the course of the candles, we’ll see the final outcome.
Above any analysis or strategy, don’t be an Ave-María trader.
#XAUTSDT $XAUT
The XAUT made a very strong corrective move after a strong bullish move.
It formed a bottom and closed above the moving average, indicating buying strength returning. The low of the Candle that closed above the moving average was not lost in the next few days, so the bottom below will be valid to be defended, but for now it doesn’t make sense to defend it. From the potential entry point up to the resistance above, the R:R is very favorable, and if the price has momentum it can go even further.
In the market, it’s a matter of probabilities—over the course of the candles, we’ll see the final outcome.
Above any analysis or strategy, don’t be an Ave-María trader.
#XAUTSDT $XAUT
