Minfintyfunds

Minfintyfunds

No Trade Taken because of unclear Price Action and Fed playing games

Minfintyfunds

Weekly seems bearish. This week is heavy data so let's see what will XAUUSD do. Entry was taken based on 5 am (Pre NY) 1hr closed candle. On hindsight, I could see this 1790-1785 area as a support zone as well

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Looking to buy gold if Pre-Market 5am PST candle closed strong bullish. Otherwise, this could be a correction phase and we can go further down to 1760s range Lets wait for some sort of confirmation

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Tried to buy Gold based on Daily Time Frame but made a mistake and traded the idea on 15 min time frame False support and resistance and got tagged out. Lesson - Don't trade 5 and 15 min time frame. It gives you the illusion that you will catch a good move but often times it's false

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Long gold based on Daily Strucutre. Yesterday price action was deep pullback, and it make sense on Weekly time frame. Enter long after 5am PST (Pre-NY) open and anticipate to close bullish Once 5am PST closed bullish, then enter with 6am PST Cut the trade short because of data ISM Manufacturing and wasn't too sure how price may react. Overall waited 1.5 hours...

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Tried to buy Gold but didn't work out. Thesis was bullish because of Monetary Policy, Dec closed bullish, and generally in Dec/Jan gold move up Managed risk from 30 pips to 10 pips loss

Minfintyfunds Updated 

Tried to buy gold two times after 5 am broke overnight lows but didn't work out. Two losses

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The overall structure appears to be long. Key Takeaways: No Economic or Financial data this week so the trend should continue With inflation, Gold buys make more sense Risking 13 pips and Potential Target 25 pips Generally, Gold 1st 30 min candle will create a wick and 2nd 30 min candle will move the opposite way. In this trade, 8am EST candle tag previous day...

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Daily created lower wick and then push the price higher Similar price action took place yesterday

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Short Gold Based on Daily Rejection Structure was broken based on NYSE rejection

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Daily was rejected 5am volume confirmed it and thesis were developed to go short

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Daily went up to tag monthly opening and got rejection Pre-Market volume confirmed that 5oclock am Enter sell on 6am for the cash market to pull the prices down

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Long after 4hr closed bullish

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The overall structure is bearish. Idea is that price will come up tag pre-NY area and then come down to grab liquidity

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Potential buy if the price broke above the no zone range. No Sell

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short setup when 1hr make bearish setup

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Prices are ranging in a box and it may be a bullish breakout.

Minfintyfunds

Based on data came in today