XAUUSD FOMC week

This is what I observe. Gold is continuing correction, for the next leg up, or is it? 1227 area is the confluence of short-term trendline and and 61.8.

Watch the price here. If it breaks through, Gold might need to correct further down.

Comment:

1227 is the first entry, then if 1223. SL 1H close below 1219.

Comment:

Trade active:

1227 triggered !

Trade active:

Beautiful! Consider taking profit at 1234. This is the support turn resistance.

Comment:

*some profit. We are aiming 1245 and beyond now.

Comment:

Added long around 1235. Why? Resistance turn to Support.

Comment:

TP1 : 1248
TP2 : 1258
TP3 : 1267
SL : 1227 right now.

For every TP reached, increase your SL and take some profits.

Good luck!

Comment:

SL updated at 1230 candle close.

Comment:

Consider these level as well.

Comment:

If there is a spike down at 1238 when US news is good, add more long. SL is all shifted up 1233 candle close.

Comment:

TP1 hit! Do you love it???

Wait for continuation or retracement to add more long, preferably at breakout level just now.

Remember to shift SL!

Comment:

Adding Long position of interest!

Comment:

I am a swing trader, not scalper. I won't go against the trend, even there is a chance for it to retrace.

Comment:

Another point of interest. .Remember to take your profits before week close and plan for re-enter! Have a nice weekend. No more updates for today.

Comment:

We are reaching max ATR for the day move. Consider taking major profits about R3

Comment:

R3 reached.... want more? stay on. I am pulling out...

Trade closed manually:

Due to no retracement at all, I feel the market is overstretched. So close all at R3..