Gold gold gold, you are so perfect - IF ONLY we pay attention!
STALKING XAU/USD has given me an edge, to actually watch these patterns and setups form and COMPLETE (thats important, chart time- chart time- chart time)
who would've thought that drawing ONLY obvious lines on a chart would make a picture so much clearer?!... where was this brilliance 4 years...
Im enjoying this pairs UPTREND and CONSISTENCY!
Spending time just watching the market move has changed my trading plan/style for the BETTER! Some people like to trade multiple pairs - i find that it's too much to memorize, too many moves to pay attention too and too RISKY... for MY learning style!
Sharing my analysis on here helps me absorb what i see in the...
Gold has been Pip'in all week... 1611 TARGET HIT - 616 PIPS ON ONE TRADE (see previous Idea attached)
Current Trade:
Market has formed another Ascending triangle ALMOST at the exact same level (look left) as last breakout.
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NFP didn't move XAU/USD much but, it did give the push up to CONFIRM the Ascending Triangle Pattern. I bought at the next candle ...
Another ascending triangle formed- Enter on break of the high. Stoploss placed where the pattern would be destroyed @1544.00 area. There is enough wiggle room for gold to be bipolar as per usual :P
Hopefully I see you at the next stop - there is a triple top awaiting above. Price may chop around a bit but my bias is LONG on gold
waiting for confirmation candle. if session closes with this daily bearish hammer candle at area of value (trendline), i will be shorting peso. focusing on price action and areas of value.
