XAUUSD | New perspective | follow-up details
Updated
Gold prices sliced through the key 
2,000 level on Tuesday after a sharp drop in U.S. job openings in February. The yellow metal touched its highest in one year on Wednesday as recent U.S. economic data fanned fears of a slowdown and spurred bets the Federal Reserve may ease up on rate hikes. Following the public holiday on Friday, we were not able to see the immediate reaction of price action to the NFP reading which revealed additional 236,000 jobs in March. In this video, we took a technical dissection of the current market structure to identify a simple set-up to guide trading activities in the coming week(s).
Disclaimer:
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.
2,000 level on Tuesday after a sharp drop in U.S. job openings in February. The yellow metal touched its highest in one year on Wednesday as recent U.S. economic data fanned fears of a slowdown and spurred bets the Federal Reserve may ease up on rate hikes. Following the public holiday on Friday, we were not able to see the immediate reaction of price action to the NFP reading which revealed additional 236,000 jobs in March. In this video, we took a technical dissection of the current market structure to identify a simple set-up to guide trading activities in the coming week(s).Disclaimer:
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.
Trade active
Price action finally breaks down the key level at 2,000.000 level to start the week on a bearish note. The bearish trend line and the channel between the 2,008.000 & 1,989 zone will be a guide for trading activities for today.Good morning
Trade active
Fall out from our live sessionNote
Outlook on 15-minute time frameTrade active
Secure the sell position nowTrade active
After been taking out of the sell position with a small profit, we look out for new opportunities this morning. The appearance of buying pressure might lead to break out of structures today. We shall look at this in details during the live session.Good morning
Trade active
Secure buy positionTrade closed manually
Price action takes out the buy position as selling pressure resumes. Anything can happen at this point as price action oscillates around our key level at the 2,000 level. Our plan is illustrated on the chart... update coming up soonTrade active
The Breakout/retest of the bearish trendline has confirmed a theoretical trend continuation pattern.Trade active
Two buy positions running with over 200 pips in profit; secure all positions.Good morning
Trade active
UPDATETrade active
Buying pressure is observed. Let's be careful as we are at a critical point where selling opportunities could come in if price action breakdown/retests the trendline and the 2,008 level as we await the CPI an hour from now. Trade active
Secure the current buy position as figures from the CPI came in just as expected.Note
NOTICEWe are waiting for 1H candle to close on all pairs for our next line of action.
PATIENCE!
Trade active
Buying pressure still existTrade active
Secure the buy positionTrade active
Still on track - 140pips in profit, secure buy positionGOOD morning
Trade active
The second position was triggered at the breakout of the 2,020 level, securing all buy positions.Trade active
Third position triggered as price action find new high, secure all buy positionTrade active
All positions are secured as the trendline remains a guide for our trading activities today.Good morning
Trade active
In the just concluded live session, we discussed the potential of both buyers and sellers from this market structure.Note
UPDATEThe US Dollar is likely going bullish following the negative variance from the CPI and retail sales readings. Updates coming in soon
Trade active
Secure all sell positions as we look for more opportunitiesTrade active
Trade active
Multiple entries with approximately 1,000 pips in profit; secure all sell positions as we look out for more opportunities.Trade active
Note
Happy weekend everyone!
Trade smart. Trade consciously
Related publications
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.