XAUUSD has been consolidating in a descending triangle over the past week, showing bearish pressure after the meltdown from 3500. However, the lower timeframe RSI is oversold, hence indicating that there might be a potential retracement from the current levels. We would buy here for a potential pullback. Setup will be invalidated if we break the bottom support.
Please do not risk more than 1% per trade given that gold has been extremely volatile lately. Trade safe guys!
If you like the idea, please help like the post and comment down your thoughts below! I would love to hear your thoughts!
Please do not risk more than 1% per trade given that gold has been extremely volatile lately. Trade safe guys!
If you like the idea, please help like the post and comment down your thoughts below! I would love to hear your thoughts!
Trade active
Trade is activeTrade closed: target reached
TP1 has hit!Note
TP2 has been hit as well! Last remaining position SL has been shifted to TP1 to secure profits.Note
Trail stop at TP1 has been hit. We're currently out of all positions
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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.