Raxiyan

My trade strategies for possible scenarios, 10-14 May

Raxiyan Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
This is not an investment advice, please do your own analysis.

1760 - historically strong horizontal resistance/support
1785 - 6 Jan Fib 38
1798 - 100 MA and previous peaks
1818 - 6 Jan Fib 50, also historically horizontal resistance/support
1829 - 7 Aug Fib 38
1851- 6 Jan Fib 61
1853 - 200 MA
1855 - 10 Feb peak
1864 - 7 Aug 20 - 6 Jan 21 descending trend line, depends on bar
1876 - 7 Aug Fib 50
1899 - 6 Jan Fib 78
1923 - 7 Aug Fib 61

1) If price hits 1855
SELL - SL 1858 TP1: 1829 // TP2: 1798 // TP3:1785
if price fall below 1829 i'll move SL to 1831
if price fall below 1818 i'll move SL to 1820
if price fall below 1798 i will move SL to 1800
In this scenario i expect divergence on RSI followed by massive fall but by any chance price crosses purple ascending line before reaching TP1, TP2 or TP3 i will close all sell positions and open buy position with 3 dollars SL

2)
if price hits 1864
SELL - SL 1867 TPs same as above, SL tracks price as above

3)
if price hits 1798 without a massive fall before going up to 1855 or 1864
BUY SL 1987 TP1: 1818 // TP2: 1829 // TP3: Whenever price crosses ascending purple trend line.
if price go above 1818 SL: 1812
if price go above 1829 SL: 1827
Comment:
Scenario 1 becomes very likely. if price hits purple trend line again we will see a divergece on 4h and hopelly a nice correction. I keep watching for now. I might enter trade earlier than ı expected, around 1853
Order cancelled
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