XAUUSD - 29/03/2022 - BUY FROM $1915 SUPPORT (H12)
MY CHARTS USE PRICE ACTION ONLY. VERY SIMPLE, READABLE CHARTS WITHOUT ANY GRAFITTI AND NO INDICATORS... THIS IS THE PATH TO LONG TERM PROFITABILITY. NOT TO MENTION, I AM ALSO USING THE HIGHER TIMEFRAMES (H12 chart)
Now I don’t have to say a thing... Apart from just look at the pinbar entry highlighted by the red circle inside of my support zone. This support zone has previously pushed price up. Then look at the green arrow nearby. That’s your target, mate. We are looking to BUY GOLD.
sO hOw dO I eNtEr? mY sTOpLoSs iS gOiNg tO Be tOo bIG UsInG a hIgHEr tIMefrAMe?
Well, I usually look on only the M5 and M15 charts for simple breakout patterns like ascending/descending triangles, in this case, I would be looking for an ascending triangle since the trade is bullish. NOW LISTEN VERY CLOSELY... Since we are bullish on this trade, on the lower timeframes I also look for minor resistance levels to be tested multiple times (i.e., without the zone breaking) and then if the zone eventually break outs with a candle closing above the high of this zone, then I would look to enter at the breakout or through a break and retest as a new resistance-to-support level.
And if you don't know what an ascending/descending triangle Is, or you don’t know how to trade breakouts/break and retests, then you shouldn’t be on tradingview right now… Certainly not the idea’s section!
Bye for now. More ideas to come soon!
Disclaimer: MY TRADES ARE NOT TRADING ADVICE. YOU CHOOSING TO TRADE THIS WONDERFUL SETUP is ENTIRELY AT YOUR DISCRETION AND RISK! PRICE IS NOT 100% GUARTENTEED TO REACH THE INTENDED TARGET.
XAUUSD
Now I don’t have to say a thing... Apart from just look at the pinbar entry highlighted by the red circle inside of my support zone. This support zone has previously pushed price up. Then look at the green arrow nearby. That’s your target, mate. We are looking to BUY GOLD.
sO hOw dO I eNtEr? mY sTOpLoSs iS gOiNg tO Be tOo bIG UsInG a hIgHEr tIMefrAMe?
Well, I usually look on only the M5 and M15 charts for simple breakout patterns like ascending/descending triangles, in this case, I would be looking for an ascending triangle since the trade is bullish. NOW LISTEN VERY CLOSELY... Since we are bullish on this trade, on the lower timeframes I also look for minor resistance levels to be tested multiple times (i.e., without the zone breaking) and then if the zone eventually break outs with a candle closing above the high of this zone, then I would look to enter at the breakout or through a break and retest as a new resistance-to-support level.
And if you don't know what an ascending/descending triangle Is, or you don’t know how to trade breakouts/break and retests, then you shouldn’t be on tradingview right now… Certainly not the idea’s section!
Bye for now. More ideas to come soon!
Disclaimer: MY TRADES ARE NOT TRADING ADVICE. YOU CHOOSING TO TRADE THIS WONDERFUL SETUP is ENTIRELY AT YOUR DISCRETION AND RISK! PRICE IS NOT 100% GUARTENTEED TO REACH THE INTENDED TARGET.
XAUUSD