Anees

Gold 4H chart overview

FX:XAUUSD   Gold Spot / U.S. Dollar
209 0 7
continuing the blue scenario from November the 4th, my view and probabilities are on the chart.

Good luck
Trade active: Triangle down target is hit, expecting up move to 1280 as long as the price is in the yellow channel.
-Longs were opened, SL below @1110, TP@1270, will add longs later,.
-hedging Short pending order below @1170, TP @1130.

Good luck
Comment: The price action is in the 1st buy area between @1190 and @1170, and from what it is doing now, I'm seeing the following:

*the price inside the yellow channel then:
-before the up move, the price may go further down to the lower @1170's
-there should be an impulse to the upside in which;
-- a break above @1210, with consolidation above it means TP1 @1250 and a break outside the channel then consolidation then buy more targeting TP2@1300.
TP3@1360
--if the spike could not break and stay above the @1210 then the price will fall to the @1130 area.

**The price falls outside the channel and broke the @1165, then wait for any pullbak to the @1170's level and sell to TP1@1130, TP2@1040.

My long orders started to open @1190 and will open more all the way to @1171.
Will hedge only below @1170 after seeing a consolidation there.

Good Luck
Trade active: All long positions are opened, will see how this will develop
Comment: Plan is still long gold above @1170 as long as there is no consolidation below that level
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