XAUUSD LONG AND SHORT SETUP
Updated
Hi Guys,
I'm going to update my analysis on gold. Yesterday after touching our demand level at 1964 price rallied up more than 200 PIPS which was absolutely amazing. Now today I'm back with new setups.
Area 1979 - 1977 is an fresh area which has not been touched yet so price could react to it and give us a good trade. If price passes through that next area would be 1974-1971 which has been tested once yesterday and has already proven itself.
if rallying up continues resistance level 2001 is gonna be the first level to monitor and following that we have 2010 -2022 as a H4 time frame supply level.
So currently, best course of action is to wait and see how price responds to our intended areas of supply and demand. I also will keep you updated of my thoughts on this analysis.
Be honorable
I'm going to update my analysis on gold. Yesterday after touching our demand level at 1964 price rallied up more than 200 PIPS which was absolutely amazing. Now today I'm back with new setups.
Area 1979 - 1977 is an fresh area which has not been touched yet so price could react to it and give us a good trade. If price passes through that next area would be 1974-1971 which has been tested once yesterday and has already proven itself.
if rallying up continues resistance level 2001 is gonna be the first level to monitor and following that we have 2010 -2022 as a H4 time frame supply level.
So currently, best course of action is to wait and see how price responds to our intended areas of supply and demand. I also will keep you updated of my thoughts on this analysis.
Be honorable
Comment
Getting close to 1979 area but watch out for the newsComment
Area 79 has been hit and 50 pips in profit risk free the positionComment
Second demand area 1974 active +35 pips in profitComment
+ 50 pips in profit. You could bring the stop to the break even pointComment
Third reaction to the level i confirmed the entry using footprint chart and final result was 100 pips profit.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.