XAUUSD (GOLD) POTENTIAL LONG OPPORTUNITY
GOLD POTENTIAL LONG
After this recent week of market activity the commodity market had displayed a strong buyer interest move on Gold. After looking at the daily timeframe chart you can see that price had been holding around the lows since early August of this year. After some time this last week the market had shown strong buyer interest based on the strength of the buyer breach above the significant levels around 1206. After seeing this strong move made by the buyers it had caught my interest and had allowed me to build a possible trading scenario based on that. ALSO A TIP TO INCREASE BIG PROFITS, when looking for significant structure a HUGE tell sign if its a significant level is the strength of the BREAKOUT. ALSO; how do we know if it's a breakout ? THE STRENGTH OF THE BREAK. I usually don't give such profitable tips for free but these two concepts will really allow you to increase profits and your trading probabilities. So, lets dive into it !
1D Chart:
* on this time frame the buyers displayed a strong break above the multi-month structure level around 1206
*the momentum showed me first off they're interest in this pair, because they created a significant break, as well as its more probable for the next move to be to the upside then to the downside
*watch for a weak pullback on the daily time frame and a hold of a price to confirm the breakout and buyer control
4H Chart:
*on this time frame look for a weak pullback into the multi-month structure level
*look for strong buyer interest again around 1206 to confirm the buyer interest in this pair
1H Chart:
*use this time frame for a good risk/reward ratio
*watch for strong buyer interest also on this pair around 1206
After this recent week of market activity the commodity market had displayed a strong buyer interest move on Gold. After looking at the daily timeframe chart you can see that price had been holding around the lows since early August of this year. After some time this last week the market had shown strong buyer interest based on the strength of the buyer breach above the significant levels around 1206. After seeing this strong move made by the buyers it had caught my interest and had allowed me to build a possible trading scenario based on that. ALSO A TIP TO INCREASE BIG PROFITS, when looking for significant structure a HUGE tell sign if its a significant level is the strength of the BREAKOUT. ALSO; how do we know if it's a breakout ? THE STRENGTH OF THE BREAK. I usually don't give such profitable tips for free but these two concepts will really allow you to increase profits and your trading probabilities. So, lets dive into it !
1D Chart:
* on this time frame the buyers displayed a strong break above the multi-month structure level around 1206
*the momentum showed me first off they're interest in this pair, because they created a significant break, as well as its more probable for the next move to be to the upside then to the downside
*watch for a weak pullback on the daily time frame and a hold of a price to confirm the breakout and buyer control
4H Chart:
*on this time frame look for a weak pullback into the multi-month structure level
*look for strong buyer interest again around 1206 to confirm the buyer interest in this pair
1H Chart:
*use this time frame for a good risk/reward ratio
*watch for strong buyer interest also on this pair around 1206
Trade closed: target reached:
Target was hit on Gold this morning ! Didn't give me the pullback I was looking for so I personally didn't enter on this trade. I never chase price I always let it come to me. If you had aggressive entry congrats and on to the next one ! Cheers!