Gold Spot / U.S. DollarUpdated Backtesting for 6 Dec: Gold
Backtesting for 6 Dec: Gold
Technical Analysis
NO 1: SELL (164 PIPS)
Price reversed at Weekly Lekuk Resistance (1809.30) and went short for 164 pips. Price breaks H4 support (1798~). The trend is downtrend.
Time: 12:00H
NO 2: BUY (50 PIPS)
Retracement buy from H1 Strong Support + Precise M15 Support Shadow (1794.57 - 1793.36), price went up for 50 pips. It did not break any Resistance hence, the trend remain downtrend.
Time: 20:00H
NO 3: SELL (320 PIPS)
Price respected the H1 QMS + M15 Strong Resistance (1798.96 - 1797.78) and went short for 320 pips!
Time: 21:00H
Fundamental Analysis
News: ISM Non-Manufacturing PMI
Time: 23:00H
Result: Good for currency, USD strengthens, Gold weakens and because Gold has rejected the Weekly R and price has break 1 H4 QMB Level and 2 H4 Supports.
Intraday setup for 5 Dec trend was sell. with total pips of 534 pips using my preferred Technical Analysis.
Technical Analysis
NO 1: SELL (164 PIPS)
Price reversed at Weekly Lekuk Resistance (1809.30) and went short for 164 pips. Price breaks H4 support (1798~). The trend is downtrend.
Time: 12:00H
NO 2: BUY (50 PIPS)
Retracement buy from H1 Strong Support + Precise M15 Support Shadow (1794.57 - 1793.36), price went up for 50 pips. It did not break any Resistance hence, the trend remain downtrend.
Time: 20:00H
NO 3: SELL (320 PIPS)
Price respected the H1 QMS + M15 Strong Resistance (1798.96 - 1797.78) and went short for 320 pips!
Time: 21:00H
Fundamental Analysis
News: ISM Non-Manufacturing PMI
Time: 23:00H
Result: Good for currency, USD strengthens, Gold weakens and because Gold has rejected the Weekly R and price has break 1 H4 QMB Level and 2 H4 Supports.
Intraday setup for 5 Dec trend was sell. with total pips of 534 pips using my preferred Technical Analysis.
Note
Sorry typo, ini backtest for 3rd December 2022, Friday
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