FotiosDimitriou

XAUUSD Long - Flashcard

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD Long
Direction: - XAUUSD is in Bullish OrderFlow, and has Bullish Momentum.
- This pair created a pattern in a H4 Bullish OB.

Entry: - H4 OB (OrderBlock). The pair came to retest that area and take liquidity.
- Three Vector drop before held low. This indicates the market wants to grab liquidity before rising.
- RSI crossed volatility bands (Shark-fin) , indicating a probable rise in the pair, and crossed the Signal Line (trade entry).
- RSI at 32, indicating pair is oversold.
- Yesterday's Low was held for multiple hours during the day, with pins towards the low, indicating they were not going to drop lower before rising.

Exit: - RSI crossed the Signal Line, indicating to exit trade.
- RSI is near the 68, indicating pair is near overbought.
- 60 pip SL @ below H4 OB.
- 100 pip TP @ RSI, Signal Line Cross.
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