TrueChampionMindset

XAUUSD Technical Analysis, Pennant, Price Action, MACD, MTF

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Take at your own Risk. Past results does nor guarantee future results.

Weekly Trend is Uptrend
Daily Trend is Uptrend

Weekly Fib levels show major resistance on 0.618 and 0.500 levels, these levels were also close to the High and Open of Weekly Values for Sep 05 2011.
Pennant triangle is apparent on Daily, 4H

Previous Day Candle showed Bearish Spinning Top indicating possibility of continuation of consolidation
MACD showed Divergence on Daily TF

TP taken to 0.786 Weekly Fib. Remember to move stops when in profit. You can either to trailing stop loss or moving the stops manually to previous retracement.

Took trade at UP Movement was 80%-20% of MT4 Indicator.
Trade closed: stop reached: Trade hit SL at 0200 PST. However, trade resumed to go up after hitting SL

Comments

amazing work! thanks 🦐
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