failed to print new highs above 2026 zone,
tested a 1hr order block at that same zone
did not break previous swing high on macro down trend since cpi.
anticipating this to be the new swing igh that will continue lower into 2010 zone aswell as 2000s
with gold breaking below 2020 yesterday.
we can expect a correction to the 1hr order block depending if unemployment comes out above forecast.
the unemployment news at 8:30 will be the catalyst for the short term correction to test 2020 levels
or shoot down under recent swing low
entered on 8:30 15 min candle
after rejection and failing to break above
prev swing high @2025
got in at 2022
got out at 8:45 @2019.5
managed on 5
entered on 15 candle
after seeing dxy has more space to move positively
and the fact that 2016 is a zone of support
im waiting for consolidation to form in this area then possibly a retest of 2027 before it continues down
OANDA:XAUUSD
XAUUSD Gold trade will breakout with news
once 8:30 news comes out plus NY volume we'll get a close then breakout to the down or upside check back in 30 mins
Once 8:30 news came out i flipped my xauusd bias to sells 2003->2000 and got out before 9am est
Love this move today i could have let runners run which i will start doing more if i left runners running i would have had this new 4H candle to eat off.
But with current market conditions and it being Monday i take profits
This is the trade inside of the trade. Let's say I was to miss the previous trade idea at the 8:30 open, I'd typically get a better confirmation on LTF once the move occurs around this time 9:30 as you see here.
I entered early at 8:30AM as you can see from my first post. I reentered at the stop hunt at 9-10 and trusted the new 4H momentum and the fact that price only stop hunted from 10AM news. I manage trades around the open volume of 9AM 4H candle, plus NY open and any news. This is a paper trade to make sure im comfortable with my confluences to enter. In a real...
