XAUUSD
Hello trader,
For today, my focus is on seeking long positions. My initial trade idea involves an entry around 1903. I'm anticipating a potential bullish pattern to form within this support zone.
As for my target, I have two options in mind: either aiming for the first resistance zone or targeting the -27% Fibonacci retracement level.
Remember to closely analyze the price action and market conditions before executing any trades. Best of luck with your long positions!
Trade active:
The Trade is now active lets see how it runs
Comment:
If we can't see a clear break of 1905 and the DXY becomes bullish, I'm out. But let's observe the next two-hour candles.
Comment:
DXY stays above its 4-hour trendline. As long as it doesn't remain above it, I would say the trade is still favorable. However, if we observe more bullish momentum on DXY, I would suggest closing this position and waiting until after the news.
Comment:
I've now entered another position at 1905.60
Comment:
Unfortunately, we're a bit stuck for now. We need to see some bearish momentum in DXY to continue moving upward
Trade closed manually:
closed