XAUUSD | New perspective
Updated
Last Friday NFP's positive report appears to have interrupted the downside turn. Despite the strong bearish expectations from the majority; the bulls could be about to make their move as multiple rejections of the $1,700 area from the buyers occurred for the second time in the last two weeks. In this video, I detailed my expectations based on the current structure and how I plan to trade the Gold in the coming week.
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Comment
Price is caught within the $1,714 and $1,708 zone since the beginning of the week and I have 3 scenarios to look out for this week after considering the current structure. Waiting for a signalGood morning
Trade active
We are now witnessing a set-up that is lining up for potential bullish move as a breakout of the channel at the $1,174 finally happens.Good morning
Trade closed manually
Break-even.I am looking to sell as a rejection of $1,720 is sighted
Good morning
Trade active
The breakdown of the $1,714 level could be the bearish signal for the week hence I want to wait for the price to come within the sell window to join a potential downtrend continuation.Good morning
Trade active
So, the price is within the sell window (around the $1,715 area) identified earlier. Looking forward to a reversal pattern here to join the decline.Comment
reversal pattern in the lower time frameTrade active
The price is within the supply window and a couple of reh=jection of the $1,720 level could incite a selling momentum soon.Good morning
Trade active
Locking in some profitTrade closed manually
Stopped out with a lil profit and it appears a bullish momentum has taken shape. Looking out for bullish opportunities. Update coming soonGood morning
Trade smart. Trade consciously
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