I have 2 zones I will be looking at today for gold longs. The level I will enter the trade all depend on the 61,8 Fibonacci - if there is no reaction from this level I will take the 76 fib zone at 2743. If there is a retrace from the 61.8 fib of more than 300 pips then I will wait the lower 88 fib area (also many wicks on 1m) @2741.14
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There are 2 Zones I will be looking at for sells early next week. Ideally, we have a strong move into these zones and can catch some aggressive reversals.
I will be taking both positions looking for a minimum of 1:3 with the target Profit Zone around 2662.
2677 with stops at 2680.5 (350) and TP @ 2662 (1500) 1:4.28
2681.68 is my 2nd entry with stops at 2685.68...
SHORTS
$23.9 - $24.1
Confluences: 50 Fib, Key Level, $24 Round Number
$24.4 - $24.5
Confluences: 61.8 Fib, KL, Added Confluence if 50 Fib fails/small reaction (under $0.50)
LONGS
$21.45 - $21.3
Confluences: 88 Fib + KL
$20.8 *ONLY IF $21.45-$21.30 FAIL*
Confluences: Recent Lows
Most of the time I will use these Zones for added confluence on...
With a possible shift in structure on the Weekly/Daily TF
2046/49 - Split Entry
Confluences: 76/88fib (dependent on where you draw from), Big Daily TL 3rd Touch, 4h TL 3rd Touch (2050 RN Confluence within zone)
SL 2052
TP1 2040 (Close 2046 entry 1:1)
TP2 2025 (Close 2049 entry 1:8R)
*** IF THIS FAILS I WILL BE PUTTING THE HOUSE/CAR/KIDS ON 2055 ***
2055...
Looking at 2 zones for potential pullbacks on USD. With DXY rising all of last week, and with Metals and indices taking a beating, I believe there is some USD Downside coming.
I have 2 Zones prepped and ready for DXY Pullbacks
107.28-108 - Should provide some pullback. Heavily Tested Previous Key Level + 61.8% Fibonacci meeting in the same zone, I will be...
