XauUsd Short term pull back idea
Updated
Here we see XAUUSD breaking above 1549.20 area. I believe we will see a pull back down anywhere from the .79 to .62 Fib levels. At these levels I have highlights the three areas with boxes, these are areas in which I think it will be a good idea to make optimal trade entry's for a long position. Further more, if this does happen. Plan on scaling off profits at the 0.27 and 0.62 fib areas on the upside that I have also highlighted. These areas will be perfect for short term longs, or even to hold longer. The blue lines I have highlighted are important key numbers that will affect price, observe how price moves around them, through them, or near them and watch the numbers for wicks and closes. Important numbers include variations containing (00,20,50,80).
Key Notes:
*Pull back to 1540.00-1543.00 possible.
*Entry's for long on pull back include:
*1540.02
*1541.70
*1543.38
* targets for longs entered in that area include:
*1560.95
*1567.80
Scale off profits accordingly, always smart to book a small amount of profits on the upside, to insure more margin, and confirmed profits just in case anything happens.
*Stop loss for these entries should be placed at 1535.87 ( Right at or a tiny bit below the Fib)
Just an idea, not saying you should trade these levels and do not thank me or blame me for anything that happens with this pair, trading xauusd can be difficult and volitile, use propor risk managment and keep your emotions neautrall, if you are feeling your heart racing, or getting anxious, fear or anything else do not trade. It is not advised to trade under any emotional distress.
Thank you, and happy trading!
Lets see what happens ;)
Key Notes:
*Pull back to 1540.00-1543.00 possible.
*Entry's for long on pull back include:
*1540.02
*1541.70
*1543.38
* targets for longs entered in that area include:
*1560.95
*1567.80
Scale off profits accordingly, always smart to book a small amount of profits on the upside, to insure more margin, and confirmed profits just in case anything happens.
*Stop loss for these entries should be placed at 1535.87 ( Right at or a tiny bit below the Fib)
Just an idea, not saying you should trade these levels and do not thank me or blame me for anything that happens with this pair, trading xauusd can be difficult and volitile, use propor risk managment and keep your emotions neautrall, if you are feeling your heart racing, or getting anxious, fear or anything else do not trade. It is not advised to trade under any emotional distress.
Thank you, and happy trading!
Lets see what happens ;)
Note
XAUUSD is starting its decent. Be ready with the levels given. Proceed with cationNote
Get ready... we are nearing entry pointNote
.62 Fib Hit Portion entry complete.Note
Second entry target 0.705 fib level
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.