Definitely looking to put a bid in on XAUUSD @ 1455 for a HUGE long opportunity ! I had 1440 marked as the bottom, and could still possibly go there... But the RSI and stock are curling here, daily doji yesterday, tested long term trendline which was technically a retest of the previous' levels high with good reaction, 4hr. looks to be forming an inverse H&S which would technically end back at top of trend and be very bullish ! Targets are top of trend, then retest of previous high @ 1548, then next level is right @ 1614... GREAT BUY ANYWHERE IN 1440's !!!! Should have great returns as well !
Comment:
Comment:
XAUUSD does't seem to be honoring the inverse H&S any longer, should've known, so I would adjust this trade to try and get an entry @ 1440, should be a wick but, stop could be placed just below equilibrium of previous range. Good confluence there with level marked and bottom of trendline meeting up @ there, would expect the 4hr. To form some bullish divergence giving another good reason for entry... Will still have to see how price reacts @ 1455. Targets still the same but expect resistance @ 1485 and 1500 on the way there...
Comment:
Obviously 1455/56 was the entry... Price reacted very strong to that level !
Trade closed manually:
Cut this one for a 2% profit, didn't like how price was reacting, so will wait to try and get in @ the 1440 area...