XAUUSD - GOLD - 12 hour bars - using Time At Mode

This chart is the result of teamwork here at the "KEY HIDDEN LEVELS CHATROOM" you can find here at TradingView. Traders have asked for how to read the gold chart and it has turned into a multi-hour conversation about the recent trends and trades using TIME AT MODE and how to derive the right time frame to trade on in any market.

Here you will find the many trade setups for XAUUSD using the 12-hour time frame.

Enjoy.

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Trades:

Short term downside target 1053.50, 1081 stop, 1069.50 entry.

Stop at 1081 and REVERSE and go long with 1069 stop.

Double the position if you see a range expansion rally up.

If after 5 bars we don't get to 1189 - then exit longs and go short with a stop at 1110. Doubling up at 1100 and targeting 1088 on the 2nd short position.

Sorry I rarely give that kind of specific trading advice, but it is warranted from this kind of tight situation. See the many notes on the chart.

Tim
10:25PM EST 11/17/2015