XAUUSD
Hello traders, for today I believe a buying position would be the best choice. We observed a strong DXY performance during the London session. Additionally, there's a robust support area for gold around 1944. I've already entered my position with a stop loss at 1942 and a take profit at 1953. I've set the take profit at 1953 because I trade based on supply and demand principles.
Trade active:
entry 1944
sl 1942
tp 1953
sl 1942
tp 1953
Comment:
Coudn't break dxy 103.500 good for us
Comment:
We are currently experiencing some struggles to stay below the 78% line, but as long as we don't close above it, I don't see any issue.
Comment:
We have now witnessed the initial rejection move on DXY at 103.500, which is favorable for our position.
Comment:
We are currently facing some struggle as there doesn't seem to be a clear trend. I believe the news will provide us with the direction we need.
Comment:
After gaining the first 10 pips, I'm considering moving the stop loss to breakeven due to the upcoming news.
Comment:
closed 30% and let the other 70% run risk free.
Trade closed manually:
I'm out breakeven