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Trade Signal:
BUY (Swing)
> Entry: 1776.235
> Take Profit: 1811.664
> Stop Loss: 1764.778
Analysis:
Monthly TF we have an Impulse Correction Impulse, also on the Weekly we are currently testing an important structure where it has multiple times tested it as support, and once again why we are still bullish on Gold/XAUUSD is because of that. The market has just finished creating the last candle where it has a short body and a long wick, where we can expect the market to fill that wick.
Dropping on the 4H time frame where we can see that the market is creating a structure resistance, now if the market will manage to break above this resistance and make the environment once again shift to bullish so EMA cut for long and MACD go back above the zero. After the break and retest of this resistance turns support it is where we can see the move to the upside. Stoploss if below the 0.786 taken on the 4H impulse and the take profit will be at the -.272 of the daily retracement
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
Trade Signal:
BUY (Swing)
> Entry: 1776.235
> Take Profit: 1811.664
> Stop Loss: 1764.778
Analysis:
Monthly TF we have an Impulse Correction Impulse, also on the Weekly we are currently testing an important structure where it has multiple times tested it as support, and once again why we are still bullish on Gold/XAUUSD is because of that. The market has just finished creating the last candle where it has a short body and a long wick, where we can expect the market to fill that wick.
Dropping on the 4H time frame where we can see that the market is creating a structure resistance, now if the market will manage to break above this resistance and make the environment once again shift to bullish so EMA cut for long and MACD go back above the zero. After the break and retest of this resistance turns support it is where we can see the move to the upside. Stoploss if below the 0.786 taken on the 4H impulse and the take profit will be at the -.272 of the daily retracement
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
Trade active
The trade is now active and running in profits.Note
We can see that in the 4H there was an over extended W formation which the market has returned to the neckline where it has bounced right back up again. Once we break the entry and have retested the resistance structure it will reach our target TP.
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.
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.