Hello traders and welcome to the mid week review. Recapping some of the price action setups from Monday:
1. AUD/USD: Decent setups didn't eventuate, but price action is moving in the expected direction.
2. GBP/AUD: Had an awesome 4 hour pin bar setup, but because I got lazy, missed out on the huge move up. Let that be a lesson. You need to treat this like a profession, or expect to miss out often.
3. XAU/USD: Gold had a nice run up, but seeing a nice reversal setup at some key resistance on the 8 hour chart. Pin fakey setup off an inside bar setup. We also see some divergence in the RSI. If the pin closes below 1640, will place an order to sell at 1640.8 with initial target at 1625. If we get some follow through, will look to exit at 1600. Otherwise will close out at 1625.
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