XAUUSD Outlook 22/8/23 Blown accounts 🥲
Good evening gold gang!!! oh dear what a bad day for price action!! .. we got the mother of all fakeouts during the ny session.
What is a fakeout? .. its where price tricks you into thinking its going one way, then quickly shoots down the opposite .. trapping you in positions. The trendline break was a sure sign for buyers today seing the decline in dxy also .. i advised the gold gang to stay out of buys for this very reason
price shot up then quickly reversed and dropped 90 pips where we caught the bounce at the bottom for a quick scalp.
There will have been losses and revenge trading everywhere today .. truely a day for the brokers. This is where discipline comes in and im glad im experienced enough to have seen this play out before.
Going into tomorrows session, price really is undecided currently having broken the trend, but ranging .. so lets wait to see it play out into the london and ny session tomorrow
buy and sell zones are on the chart with reversal points as standard
lets get another win and keep it cool and professional as always knowing that the markets still have blood in the water
follow and like this to support! i love writing these for you guys and i hope you find them useful
catch you in london
tommyXAU
What is a fakeout? .. its where price tricks you into thinking its going one way, then quickly shoots down the opposite .. trapping you in positions. The trendline break was a sure sign for buyers today seing the decline in dxy also .. i advised the gold gang to stay out of buys for this very reason
price shot up then quickly reversed and dropped 90 pips where we caught the bounce at the bottom for a quick scalp.
There will have been losses and revenge trading everywhere today .. truely a day for the brokers. This is where discipline comes in and im glad im experienced enough to have seen this play out before.
Going into tomorrows session, price really is undecided currently having broken the trend, but ranging .. so lets wait to see it play out into the london and ny session tomorrow
buy and sell zones are on the chart with reversal points as standard
lets get another win and keep it cool and professional as always knowing that the markets still have blood in the water
follow and like this to support! i love writing these for you guys and i hope you find them useful
catch you in london
tommyXAU
Comment:
reversals taken!! 25 pips banked
Comment:
sells level updated