CompositeTrader
Long

XAU/USD Price Action Analysis ~ An Expected Retracement

FX:XAUUSD   Gold Spot / U.S. Dollar
‪GOLD is having a hard time to break up the Trading Range, especially after the Bearish SFP is also indicating the same thing. Hence, a retracement back to the Green Orderblock should gather the enough liquidity for the next upward bullish movement. ‬Nevertheless, the direct ratio between the price and the volume since the beginning of 2016, is remarkable. Sellers should be cautious.

Entry: 1351
SL: 1259
TP-1: 1429
TP-2: 1567
R/R: 2.35


‪Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.‬ You can also follow me from,

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‪The ideas published here are not financial advices. ‬
Order cancelled
what is sfp and why do you draw your order block that way
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@samueln8, sfp is “Swing Failure Pattern”. I draw my orderblock in what way?
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