XAUUSD 19/4/23 Outlook .. pls read
Good evening gold gang!! hope you have had a good day.
The days analysis was good and upside targets met, but no trades taken other than a very small profit. The reason for this is we got a closure above the level but price stalled for a full hour (which was not fun) so i exited the trade as this can mean rejection. Price plummeted down to grab more orders from my major level and then 200 pips to the upside to hit the original target. A small win is better than a break even and ive had a few messages from traders that took the trade and profited .. well done!
Onto tonights asian and tomorrows london and NY outlook ... Ok DXY is still trending in a bearish channel, this means we should see some gold upside .. so i have placed my buy orders at above 2012 with the target there at 2021. Look out for the 2015 problem area .. it may be better to wait for it to close above there as its a previous strong zone.
sells are down at the 1993 .. that is a very strong level and is well respected .. any closure below there should see strong downside.
No major news for us tomorrow so there may not be huge moves .. but we are only looking for 100 pip ranges .. 100 pips is massive by the way!! .. thats just my style. Im not into fortune telling predicting the price of gold in 6 months.
have a nice evening wherever you are .. catch you tomorrow for updates on this post.
Tommy
The days analysis was good and upside targets met, but no trades taken other than a very small profit. The reason for this is we got a closure above the level but price stalled for a full hour (which was not fun) so i exited the trade as this can mean rejection. Price plummeted down to grab more orders from my major level and then 200 pips to the upside to hit the original target. A small win is better than a break even and ive had a few messages from traders that took the trade and profited .. well done!
Onto tonights asian and tomorrows london and NY outlook ... Ok DXY is still trending in a bearish channel, this means we should see some gold upside .. so i have placed my buy orders at above 2012 with the target there at 2021. Look out for the 2015 problem area .. it may be better to wait for it to close above there as its a previous strong zone.
sells are down at the 1993 .. that is a very strong level and is well respected .. any closure below there should see strong downside.
No major news for us tomorrow so there may not be huge moves .. but we are only looking for 100 pip ranges .. 100 pips is massive by the way!! .. thats just my style. Im not into fortune telling predicting the price of gold in 6 months.
have a nice evening wherever you are .. catch you tomorrow for updates on this post.
Tommy
Comment:
took the sells and lost this time. Price rejected. Probably because it was such an impulsive move through the zone .. ill journal it and move on.
Comment:
boooom there we go! biig sells .. no new york trade ideas just yet .. need to let the market breathe after such a heavy drop.
Comment:
gold doing what it does best .. trapping mid term investors. All of twitter saying its going down its going down .. then corrects the whole move lol ..