Lanmar
Long

Gold Long Strategy

FX:XAUUSD   Gold Spot / U.S. Dollar
160 2 6
.
Trade active: (Entry 1)
Trade closed: target reached: Entry 1 CLOSED at 1248.5 (Adjusted target to be trailed based on 1 hour structure formation).

Entry 2 initiated at 1237 (Target to be trailed based on 1 hr)

Entry 3 adjusted to 1202 (Target @ 130x)
Trade active: Entry 2 Active at 1237
Comment: Looking at the current strength in the dollar we could determine it is only temporary against gold. At best, it will strengthen to 1165 on gold, but I view that as very unlikely. 1190 is the clear entry. Hopefully we could reach this level.

Flipping charts upside down sometimes has the effect of making charts clearer to me. Let me know if you experience that as well! Not everyone does! I found I have a bearish bias. In other words, for the most part (not always) I have been able to see things more clearly if my intention is to short, hence the flipped gold chart (Shorting USD against Gold). Hope this helps!

Comment:
Great chart. How did you define that strong demand zone @1244?
Reply
Lanmar NietoFX
Thanks! There were buyers there! ;)
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