XAUUSD Analysis - 14/02/2024
To get into a buy setup on XAUUSD, I am looking at two probabilities but majorly, we need a change of character on the 1H TF. So with the recent behavior of XAUUSD, the two probabilities are;
1. Price to sell from the 1H marked SC into the 4h DZ and then create a CHoCH to the bullish side. After this, we look for entries from the SC created in the process.
2. Price needs to take out the current high which will give us a CHoCH, and then we look for an SC created in the process to buy from.
In general, we have a Fair Value Gap (FVG) which will aid momentum to the bullish side.
We also have a UNEMPLOYMENT CLAIM NEWS happening tomorrow.
Since we don't know how long it might take price to do this, I am patiently waiting.
SC = Sponsored Candle = Demand or Supply POI
To get into a buy setup on XAUUSD, I am looking at two probabilities but majorly, we need a change of character on the 1H TF. So with the recent behavior of XAUUSD, the two probabilities are;
1. Price to sell from the 1H marked SC into the 4h DZ and then create a CHoCH to the bullish side. After this, we look for entries from the SC created in the process.
2. Price needs to take out the current high which will give us a CHoCH, and then we look for an SC created in the process to buy from.
In general, we have a Fair Value Gap (FVG) which will aid momentum to the bullish side.
We also have a UNEMPLOYMENT CLAIM NEWS happening tomorrow.
Since we don't know how long it might take price to do this, I am patiently waiting.
SC = Sponsored Candle = Demand or Supply POI
Comment:
Price has given us the first Probability out of the two posted earlier on XAUUSD - We will be looking for a Possible Buy opportunity tomorrow.
Comment:
LESS IS MORE and PATIENCE IS KEY
When "less is more" meets "patience is key," magic happens in the world of trading.
By taking fewer trades with a simplified strategy and waiting patiently for the perfect setup, we unlock the full potential of our trading prowess.
We trade with precision, entering the market with confidence and conviction, knowing that we have waited for the opportune moment to strike.
This synergy between simplicity and patience is the hallmark of successful traders.
It's about trading smarter, not harder, and recognizing that sometimes the best trade is the one you don't take.
In a world where every tick of the clock presents a new opportunity, mastering the art of "less is more" and "patience is key" is the ultimate secret to trading success.
When "less is more" meets "patience is key," magic happens in the world of trading.
By taking fewer trades with a simplified strategy and waiting patiently for the perfect setup, we unlock the full potential of our trading prowess.
We trade with precision, entering the market with confidence and conviction, knowing that we have waited for the opportune moment to strike.
This synergy between simplicity and patience is the hallmark of successful traders.
It's about trading smarter, not harder, and recognizing that sometimes the best trade is the one you don't take.
In a world where every tick of the clock presents a new opportunity, mastering the art of "less is more" and "patience is key" is the ultimate secret to trading success.