Welcome back, guys! I’m Skeptic. Let’s kick off the week with an analysis of XAU/USD, which seems to be giving us a long trigger right now! Let’s break down the 1-hour time frame.
🔍 Market Overview:
The major trend on the daily is still uptrend, so it’s best to trade in the direction of the trend (long). Last week, as per our analysis, we hit a new ATH and managed to break the resistance at 2954.74.
📈 Current Situation:
After a brief consolidation in the 4-hour time frame, a new uptrend momentum seems to be kicking off, which could lead to another price surge and a potential new uptrend.
🚀 Long Setup:
Our riskier long trigger will be activated after breaking 2994.16, and it looks like the current candle is about to break it.
For a safer position, we’ll wait for a breakout above 3002.71.
📉 Short Setup:
A short position below 2968.43 could work, although the uptrend momentum is quite strong, so there’s a higher chance of hitting the stop loss.
💡 This week, we have plenty of setups, so make sure to catch all the analyses and stay prepared.
Until the next analysis—stay sharp and trade smart! 💪🔥
🔍 Market Overview:
The major trend on the daily is still uptrend, so it’s best to trade in the direction of the trend (long). Last week, as per our analysis, we hit a new ATH and managed to break the resistance at 2954.74.
📈 Current Situation:
After a brief consolidation in the 4-hour time frame, a new uptrend momentum seems to be kicking off, which could lead to another price surge and a potential new uptrend.
🚀 Long Setup:
Our riskier long trigger will be activated after breaking 2994.16, and it looks like the current candle is about to break it.
For a safer position, we’ll wait for a breakout above 3002.71.
📉 Short Setup:
A short position below 2968.43 could work, although the uptrend momentum is quite strong, so there’s a higher chance of hitting the stop loss.
💡 This week, we have plenty of setups, so make sure to catch all the analyses and stay prepared.
Until the next analysis—stay sharp and trade smart! 💪🔥
Trade closed: target reached
After activating the long trigger I shared yesterday at 2994.16, today we managed to reach R/R 3 with a safe stop loss. If you entered with me yesterday, I suggest securing some profits now. Currently, there’s no good re-entry point, so don’t rush it—let the market form a structure first.
Stay profitable! 💪🔥
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.