XAU/USD Long with 3.1 R/R - validation above range-high
Updated
Dear Traders all around the world
As analyzed in the previous XAU/USD chart we‘re looking for a daily close above $1315.20. I decided to take a look at the 4hr chart and maybe see things developing in advance.
Referring to the right chart in the picture, we just closed a 4hr candle above range-high at $1315.27. Turned out to be valid, as we just pumped to $1319.22. This closure & validation indicates us that we’re likely going to close our daily candle above range-high. Took out it‘s low right where EQ of our whole expansion is (where the tick is) and closed above EQ of our grey block. This means we gained control of the upper half of the block, which sends us to $1326.30. I expect us to engineer liquidity in our crucial-zone at $1332-1334.
Entry-zone: $1315 - $1316
TP1: $1317.50
TP2: $1320
TP3: $1325
TP4: $1330
Stop-Loss: Below EQ of current leg-up or 4hr close below range-high again. $1309.72
Updates following as daily candle develops. Daily close above $1315.20 is our key validation.
As analyzed in the previous XAU/USD chart we‘re looking for a daily close above $1315.20. I decided to take a look at the 4hr chart and maybe see things developing in advance.
Referring to the right chart in the picture, we just closed a 4hr candle above range-high at $1315.27. Turned out to be valid, as we just pumped to $1319.22. This closure & validation indicates us that we’re likely going to close our daily candle above range-high. Took out it‘s low right where EQ of our whole expansion is (where the tick is) and closed above EQ of our grey block. This means we gained control of the upper half of the block, which sends us to $1326.30. I expect us to engineer liquidity in our crucial-zone at $1332-1334.
Entry-zone: $1315 - $1316
TP1: $1317.50
TP2: $1320
TP3: $1325
TP4: $1330
Stop-Loss: Below EQ of current leg-up or 4hr close below range-high again. $1309.72
Updates following as daily candle develops. Daily close above $1315.20 is our key validation.
Trade active
TP1 for 0.19% profit hit! Let's get this:)Trade active
TP1 for 0.38% profit hit!Trade active
TP3 for 0.76% profit hit! Current high: $1327.599. Getting near our TP4:) Last comment obviously refers to TP2.
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