1st.set up for Bull

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
2558 15 71
Entry: 1248-1251
NFP is coming, Gold             fell to an important support, which holds Brexit event.
I'll use 1/3 of the positions to buy here;
The other 2/3 should wait for clear signals came out.
Comment: This is daily chart, almost clone the history, but trading still need to wait for clear signals.
Comment: before NFP,1259blocked,pocket some profits, or move S/L to cover the cost .
see the updated Chart below:
both the red line and the blue trend line blocked
once breaked up, go north. The purple area is safty to buy.
Trade active: The rest 2/3 Entry is $1255

go go go!
Comment: There's a 2B here. Finally the price back to 1249-1260 consolidation area.
The bear trap always happened in the tail of down trend, within the weak consolidation area.
1H RSI in bullish Div, meantime, silver fell slowly and not as much as gold.
Comment: I'm expecting an ABC bounce
Trade closed: target reached

Related Ideas

thank u
good and detailed analysis .. thank you
faylee PaoloC
You're welcome~
+1 Reply
Very nice! Last night l'm et long 1247, tp1 1265, tp2 1280-85
Love your peak to trough cycle analysis in image 1. Creative thinking
+1 Reply
faylee Lanmar
Thank you, give me your comment if you have.
+1 Reply
hello,i am Chinese too,I want to get in touch with you.QQ565756236 abcd8220@163.com
this one is great
faylee china didn't make any indicator ? who predict future price ?
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