Gold Spot / U.S. DollarUpdated XAUUSD
Had to switched up a little bit and I will explain
Bullish Perspective:
-This is what I see at the moment as long as Xauusd stays above 1643.921 i will be in long with a tight sl either a 15 min candle closes under I will cut but then I will also try another buy at 1636.879 with a 15/30 min candle close underneath but will have to keep an eye on 1643.921 as a resistance but if we do manage to get back above 1643.921 move your sl
-1643.921 is a .236 lvl on my Fib on the 2 week consolidation candle
- (What is this .236 lvl) - .236 on my fib level is either used for a bounce zone or used as a resistance zone
-The reason it is in yellow on my chart is because it might not be as strong as my .236 on 1636.879 which is a monthly consolidation candle (big time frame the better)
TP for long: 1680.500
Bearish Perspective:
-We lose the 2 week consolidation lvl of the .236 which is 1643.921 falls down to the monthly consolidation lvl of the .236 at 1636.879 either use that for a small bounce back to 1643.921 (2 week IB) use as a rejection and come back down and break 1636.879 and use that as a resistance
Tp for shorts: 1609.179 - 1606.171
Neutral Zone: Can either scalp some calls or puts but dont hold anything for too long cause this is a chop zone and anything can happen
-If it does chop in between 1636.939 and 1643.921 and you want to play it safe then wait for either .236 lvls to break to the up or down side
Monthly Consolidation candle lvl:
(.236) - 1636.879
2 Week Consolidation candle lvl:
(.236) - 1643.921
But remember this is on a bigger time frame and it'll a while for these tp zones to hit about 2 weeks - 1 month
Feel free to ask me any questions
Thank you for taking the time out of your day and reading my analysis
Bullish Perspective:
-This is what I see at the moment as long as Xauusd stays above 1643.921 i will be in long with a tight sl either a 15 min candle closes under I will cut but then I will also try another buy at 1636.879 with a 15/30 min candle close underneath but will have to keep an eye on 1643.921 as a resistance but if we do manage to get back above 1643.921 move your sl
-1643.921 is a .236 lvl on my Fib on the 2 week consolidation candle
- (What is this .236 lvl) - .236 on my fib level is either used for a bounce zone or used as a resistance zone
-The reason it is in yellow on my chart is because it might not be as strong as my .236 on 1636.879 which is a monthly consolidation candle (big time frame the better)
TP for long: 1680.500
Bearish Perspective:
-We lose the 2 week consolidation lvl of the .236 which is 1643.921 falls down to the monthly consolidation lvl of the .236 at 1636.879 either use that for a small bounce back to 1643.921 (2 week IB) use as a rejection and come back down and break 1636.879 and use that as a resistance
Tp for shorts: 1609.179 - 1606.171
Neutral Zone: Can either scalp some calls or puts but dont hold anything for too long cause this is a chop zone and anything can happen
-If it does chop in between 1636.939 and 1643.921 and you want to play it safe then wait for either .236 lvls to break to the up or down side
Monthly Consolidation candle lvl:
(.236) - 1636.879
2 Week Consolidation candle lvl:
(.236) - 1643.921
But remember this is on a bigger time frame and it'll a while for these tp zones to hit about 2 weeks - 1 month
Feel free to ask me any questions
Thank you for taking the time out of your day and reading my analysis
Note
Will also be using the mvwap and vwap to help me outNote
once this 15 min closes under i will take a short sl 15 min closes aboveNote
We are now in the neutral zone dont trade in this zone unless you get puts or calls at the .236 lvls
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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.