Finally XAU is paying off. We had a trade last night that gave us 140 pips profit from the bottom of the triangle to the top, then we re entered again. Finally gold is being nice to us! hopefully have a break and rejection at the next zone and carry up north
I am heavily inclined on DXY death and for that reason, I have a bullish outlook on GOLD, although the majority of retail sees sells.
I will be looking to buy XAUUSD on Monday if we stay trading in and around the current price zone. I have marked out my buy target with a potential SL and TP you can use.
COT Data - 54% Long
Trading The Range
1. Market closed back in the range on the 15M chart.
2. On the 15M minor support was formed creating HL
3. Buys were taken on the high of the previous candle and SL at the bottom of the candle to manage risk.
4. SL moved to BE at 10pips, closed 1 trade and left a runner.
1.wateched the market create minor support with no indications of sellers
2. took buys at the close of the candle
3. SL at the bottom of the candle
5. TP at the previous resistance
1.Close one trade at 10 pips and leave a runner.
2.Move SL to 50% and leave runner.
We are trading below resistance at 1898, a break of this level could see us long back up to 1905. I have highlighted a potential barrier along the way in the form of a resistance, however if there is enough volume, we can break that level. For buys to be valid, we need to form support above resistance. I am not looking for sells as I do not like the ranges to the...
Sorry for the late publication guys I'm new to the whole publishing thing.
- Huge upwards movement on XAUUSD upon rejecting a double bottom level, (somewhat of a 'triple bottom' almost)
Lots of key levels of support and resistance, looking for price action to break through each level, if not then may be thinking about closing for partial profits.
TP 1: 1900 for...
We have now witnessed the first phase of the structure shift on XAUUSD. I will now be waiting for a second impulsive to the upside breaking the first level of structure to potentially confirm a new uptrend as illustrated.
COT Data - 54% Long
Gold broke resistance and formed a nice support on lower timeframes, this was good confirmation to take buys, with TP at the wickfill and stops below the previous candle, we secured entries at 35 pips and the runner got stopped out at breakeven. So a nice win for the night
I believe this pair is still bullish, If we take a look at the daily we can see a steep trendline which has been respected. Dropping down to a 4HR we can see that this trendline has been respected several times.
It appears price will head towards resistance again before any kind of big selloff happens (if at all)
I can also see bullish divergence on the daily...
You hear about so called gurus providing a magic strategy that uses 100 indicators and that costs you a fortune because they are greedy and want you to fund there luxury lifestyle... F@ck them greedy pigs! I am giving my strategy away for FREE! My strategy is as simple as it looks on my charts and is really effective. If you want to learn more then just send me a...
The gold spot made a symmetrical triangle and broke upward. And it was following the downtrend line channel from the beginning of September. As you can see, the breakout candle has closed above.
I have drawn a dynamic parallel trendline to find out the last point of the rally. Long-term investors, please keep their eyes on A, B, C, D, E, F, and G. Wherein F & G...
Price is still respecting my 1924 level, price has touched this level and bounced the past 5 weeks and i am expecting more bullish moves as we have sustained above this level.
But as always in the markets you must be willing to change your mind and accept your setup was wrong which is what i will do if price falls below 1924. In trading holding onto a losing...