XAU/USD - H&S - LONGED
POTENTIAL TRADE: XAU/USD (2H)
Gold has significantly been selling off since yesterday’s N.Y session. It created a new low below the 11700/OZ region, however, it quickly reversed back to the upside. I am now looking to see how it behaves as it trades near this descending macro-trendline. If price can maintain above the key level of psychological support at $1710, I will be looking for further long opportunities.
I am looking to enter long on this currency pair for the following reasons:
- Uptrending price.
- Bullish market structure on HTF.
- Buying a break-out of previous resistance.
- Trading with the overall trend.
- Previous resistance if broken will turn into support.
- Trend-Line Break-out.
If you found this idea useful, leave a like and follow me for more analysis and trading signals.
If you have any questions, feel free to ask in the comment question. I respond to all comments!
You must always use correct risk management when following any analysis. I am not regulated!
This is just a trading idea!
Happy Trading!
Gold has significantly been selling off since yesterday’s N.Y session. It created a new low below the 11700/OZ region, however, it quickly reversed back to the upside. I am now looking to see how it behaves as it trades near this descending macro-trendline. If price can maintain above the key level of psychological support at $1710, I will be looking for further long opportunities.
I am looking to enter long on this currency pair for the following reasons:
- Uptrending price.
- Bullish market structure on HTF.
- Buying a break-out of previous resistance.
- Trading with the overall trend.
- Previous resistance if broken will turn into support.
- Trend-Line Break-out.
If you found this idea useful, leave a like and follow me for more analysis and trading signals.
If you have any questions, feel free to ask in the comment question. I respond to all comments!
You must always use correct risk management when following any analysis. I am not regulated!
This is just a trading idea!
Happy Trading!
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