XAUUSD is displaying a bearish AB=CD pattern with a possible reversal zone at the D point, while currently being in a range between CD. Furthermore, no RSI divergence has been detected at this time.
As the XAUUSD is currently in a range between CD with a possible reversal zone at the D point,
So I am taking a long entry until confirmation of the D point. Using a Buy Stop order on a breakout of the B point can be a viable entry strategy.
Entry Price Buy Stop: 2032.10
Stoploss: 2000
Take Profit 1: 2064
Take Profit 2: 2096
Risk 2%
However, it's important to do your own analysis and consider risk management before making any trades.
As the XAUUSD is currently in a range between CD with a possible reversal zone at the D point,
So I am taking a long entry until confirmation of the D point. Using a Buy Stop order on a breakout of the B point can be a viable entry strategy.
Entry Price Buy Stop: 2032.10
Stoploss: 2000
Take Profit 1: 2064
Take Profit 2: 2096
Risk 2%
However, it's important to do your own analysis and consider risk management before making any trades.
Trade closed: stop reached
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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.