Xausd
Gold trade idea(1hr)Congrats on previous sell .. Still Gold continue following the bullish trendline religiously as we await a break soon.. So we see a buy short to resistance/top trendline then following a long sell long back to supports/bottom trendline..Make use of your sell limits with due respect to chart idea NB; As long as neither trendlines broken follow analyses. Please comment, like and share your ideas on this particular pair too. thanks!
XAUUSD (GOLD) SHORT SELL*ATTENTION*
Good Risk Management due to its volatility.
So just looking at the chart above i can see a nice head and shoulder formation happening here.
Overall Trend is going upwards.
Looking to catch head downwards and the right shoulder upwards.
if this head works out analysis on the right shoulder will be followed on.
What's your thoughts on the Gold Market ?
Comment below what you think!!!!
Gold potential hedge playDear Traders,
Last week a solid long-trade was taken from the daily trendline bounce, after running around +400 pips in profit we decided to take partial profits and let the rest run with our stoploss at BE around that 1465 area.
At this moment, gold is sitting at the daily retracement level .618 and .75 and a third touch trendline, pushing price to the downside and sustaining the short-term daily bear trend. I am personally waiting for one more push higher to test this trendline and stop out early shorts first, after that 4hour price-action is needed to confirm the rejection to the downside and a likely downside target is 1440, which is at daily demand, -0.27 and -0.68 extention.
Best regards,
The NXFX Team.