Gold is Trading sideways at the moment, monday and tuesday we had the biggest volatility percentage in May. Fundamentally speaking due to speculation on the stock markets with J. Powell speaking effects haha. I'm more of a long-term on this.
I expect Price Action to cause selling pressure, you can see that on 4h chart and and if it starts to go down on daily candle we could test the 1.715 level.
Markets are too sentimental at the moment, investors with indecision where to put their money with all this manipulation we're living nowadays.
PS: I'm just sharing my ideas here of the trades I get in. I'm in no way suggesting anything, I'm not an investor adviser or something like that. I'm just a dude trading and later on I can check if I was right or not.
I expect Price Action to cause selling pressure, you can see that on 4h chart and and if it starts to go down on daily candle we could test the 1.715 level.
Markets are too sentimental at the moment, investors with indecision where to put their money with all this manipulation we're living nowadays.
PS: I'm just sharing my ideas here of the trades I get in. I'm in no way suggesting anything, I'm not an investor adviser or something like that. I'm just a dude trading and later on I can check if I was right or not.
Trade closed: target reached:
Update:
First target reached, from 1753.00 partials on 1736.80 taken. SL moved to 1750.00 and I will let it run risk free hoping to reach 1716.00 target
First target reached, from 1753.00 partials on 1736.80 taken. SL moved to 1750.00 and I will let it run risk free hoping to reach 1716.00 target
Trade active:
Trade following the analysis, almost there at 1715 as tp2. Probably we're going to face some support level market going sideways at 1728.80 now, if it breaks, 1715 is right ahead. Then I will see the marketing conditions to whether engage new set of sells until 1680 or scalp in between
Trade closed manually:
Closed yesterday at 1725.39 and I'm glad I did it, otherwise it would be a waste of time even securing profits before, moved SL and having the trade running risk free.
After that I bought at the same level and my TP just got hit at 1739.
I traced a Fibonacci retracement and it was a good night sleep waking up to profits.
Gold is amazingly good and dangerous haha but we like the risk, don't we?
If done right, obviously
After that I bought at the same level and my TP just got hit at 1739.
I traced a Fibonacci retracement and it was a good night sleep waking up to profits.
Gold is amazingly good and dangerous haha but we like the risk, don't we?
If done right, obviously