XAUUSD | New perspective | follow-up details

Following a profitable week for Gold (see link below for reference purposes); the rally in gold shows that it has become the spotlight as the banking crisis drove more investors towards it for safe havens. Gold hit 11-month highs, breaking from the mid-$1,900 zone and strongly heading for the $2,000. As the fears that the U.S. economy could end up in a deep recession lingers, there is a high chance of a range-bound market activity until we get some data from the Federal Reserve after which massive traction will be witnessed in the coming week(s). This video illustrates the technical perspective of the current market structure and how to position for the next potential move.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

After identifying a structure within the $1,990 and $1,970 range, a breakout of the resistance line at the $1,990 signals a potential bullish momentum.

Good morning

Trade active:

secure positions

Comment:

Please disregard the previous update

Trade active:

OUTLOOK ON 15-Minutes timeframe

Just as discussed during our recent live studio

Trade active:

The week started at a very slow pace and this choppy situation might continue in anticipation of the macroeconomic events tomorrow but as long as the price remains below the trendline and the $1,976 level, we remain comfortable in the current sell position.

Good morning

Trade active:

Secure all sell positions

Trade active:

Trade active:

Secure all sell positions

Trade active:

3 positions running with approximately 500 pips in profit; secure all positions. Update coming up soon

Trade active:

Over 900 pips in profit with 3 positions running; secure all sell positions

Trade active:

OUTLOOK on the 15-minute time frame

A breakout/retest of the $1,942 level has a high chance of inciting a reversal pattern hence move stops accordingly. However, a breakdown/retest of the $1,936 level will welcome more opportunities to add more sell positions to our existing trade.

Trade active:

Re-adjusted set-up as the resistance line is now at the $1,945 level. Waiting for signals

Good morning

Trade active:

Buy position triggered, secure position

Trade closed: target reached:

25bps rate hike confirmed!

TP target hit with approximately 500 pips in profit; Lets wait for this candle to close

Trade active:

Normalcy incites selling pressure below the $1,976 level

Trade active:

BUy position triggered at the breakout/retest of the $1,976 level. Secure position

Good morning

Trade active:

After being taken out of the buy position, the appearance of selling pressure from this structure with strong selling memory at the $1,976 area could incite a sell-off any time soon. We discussed this at length during our live session this morning

Trade active:

Secure sell position

Trade active:

Price action takes out the sell position to trigger the buy position at the breakout of the $1,985 level. Secure buy position as we look forward to more opportunities at the breakout/retest of the $2,000 level

Trade closed manually:

After being taken out of the buy positions with about 70 pips profit, seeling pressure resumes below the $2,000 zone for the second time this week. We want to see how price action reacts to the $1,985 level as the bullish becomes our yardstick for trading activities today.

Good morning

Trade active:

Secure all sell positions