XAUUSD OUTLOOK
Price is in an uptrend movement which leaves a potential buy zone as price retraced to the region of the previous high using the break and retest strategy.
Price did an impulse breakout yesterday and based on the psychological level, we can expect price to head back up from impulse buyers.
Impulse long entries can be taken once price rejects that region.
The confirmations are the RBS zone, the SnD and the Trendline.
We had our buy limits set up with upside potential in the R:R ratio of 1:5
XAUUSD
BUY LIMIT ORDER
RR 1:5
EP: 1809.66
SL: 1807.66 (40 pips)
TP: 1830.00 (200 pips)
Price is in an uptrend movement which leaves a potential buy zone as price retraced to the region of the previous high using the break and retest strategy.
Price did an impulse breakout yesterday and based on the psychological level, we can expect price to head back up from impulse buyers.
Impulse long entries can be taken once price rejects that region.
The confirmations are the RBS zone, the SnD and the Trendline.
We had our buy limits set up with upside potential in the R:R ratio of 1:5
XAUUSD
BUY LIMIT ORDER
RR 1:5
EP: 1809.66
SL: 1807.66 (40 pips)
TP: 1830.00 (200 pips)