IzzoFx

Gold Daily Supply & Demand Zone Trading

FX:XAUUSD   Gold / U.S. Dollar
This is my Gold             Supply & Demand Zone Trading off a Daily chart .

This set-up mirrors the E/U S & D Daily chart that I posted.

The Supply Zone also matched up with the 50%-61.8% Fib zone. So I have no worries but that zone, but the Demand Zone not too sure about. The long wick in that zone gives me a little reassurance that the zone will hold for at least one more bounce / trade.
If price does break and close below Demand Zone then I may cut my loses and take the breakout trade with a t/p of 1265.00 which is right before the 61.8% Fib Level on the previous major uptrend. But the good thing about the Demand Zone is that it does fall within the 50%-61.8% Fib zone on from the major previous uptrend.
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A good t/p @ 1298.00
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Nice chart. Lowe prices where rejected quite strongly.
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IzzoFx PRO TheBull
Thanks TheBull !!
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