growthbank

[GOLD] Buy Limit - 06/13/2022 - New York Session

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I have been enjoying looking at Gold over the past couple of weeks. Every week I like to start my analysis over and include the details of the previous week. I started looking at Gold with a Top Down analysis and saw that Gold had an overall 50 retracement and completion pattern and then began to change directions and break structure. This break of structure on the 4H was also a 50 retracement that was touched twice with the latter creating another higher. That brings us to the 1H. Since breaking that high, I created a trendline that I believe Gold will respect and then continue to complete the 4H movement up to the -27 target zone. Entry will be taken off of the retracement and sniped at the 61.8. I have two entries with stop loss way under the trendline. Ready for the trade to activate and bring in a 1:6 and 1:3.74 win!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.