XAUUSD POTENTIAL OUTCOMES
I'M MAKING THIS CHART BY SPECIAL REQUEST AND AFTER LOOKING AT THIS COMMODITY THE CHART IS SHOWING ME TWO POTENTIAL OUTCOMES. RECENTLY XAUUSD BROKE ABOVE RECENT SIGNIFICANT STRUCTURE OF 1350 PRICE ZONE. THERE ARE REALLY TWO THINGS THAT CAN HAPPEN HERE. FIRST OFF WHEN A BREAKOUT ABOVE OR BELOW STRUCTURE OCCURS YOU WANT TO WAIT FOR CONFIRMATION THAT IT'S A TRUE BREAKOUT BEFORE TRADING. THIS WILL ELIMINATE RISK MORE SO BY GIVING A MORE SOUND PROOF REASON BEHIND TAKING A TRADE. A WAY TO TELL IF IT IS A ACTUAL BREAKOUT OR NOT FIRST IS THE POWER OF THE BREAKOUT, THE MOMENTUM AND STRENGTH OF THE BREAKOUT IS VERY CRUCIAL. THIS IS DUE TO THE FACT THAT IF YOU SEE A VERY STRONG BREAK IT SHOWS IT TOOK A LOT OF BUYING/SELLER POWER TO GET THROUGH THAT LEVEL, SHOWING IT'S A SIGNIFICANT LEVEL AND ALSO A SIGNIFICANT BREAK. SECOND, YOU WANT TO WAIT AND SEE HOW THE RE-TEST IS; IF PRICE JUST RUNS RIGHT BACK AFTER THE BREAK THAN IT'S A FAKEOUT, IF PRICE SLOWLY RE-TESTS THE AREA WITH SOME RESTS AND SMALL PULLBACKS IT SHOWS IT WAS A LEGIT BREAK AND WAIT FOR THAT BUYER/SELLER MOMENTUM TO RESUME BEFORE TAKING A TRADE. THIS ALSO GIVES YOU BETTER RISK TO REWARD WITH YOUR SETUPS. YOU WANT TO BUY LOW AND SELL HIGH. THIS IS MY OUTLOOK ON XAUUSD SO NOW WE HAVE TO WAIT AND SEE IF PRICE RUNS RIGHT BACK (FAKEOUT) OR IF PRICE HOLDS, HAS A WEAK SELLER RE-TEST, AND BUYER MOMENTUM AND STRENGTH COMES BACK. HOPE THIS HELPS LETS KEEP AN EYE OUT!
CHEERS!
I'M MAKING THIS CHART BY SPECIAL REQUEST AND AFTER LOOKING AT THIS COMMODITY THE CHART IS SHOWING ME TWO POTENTIAL OUTCOMES. RECENTLY XAUUSD BROKE ABOVE RECENT SIGNIFICANT STRUCTURE OF 1350 PRICE ZONE. THERE ARE REALLY TWO THINGS THAT CAN HAPPEN HERE. FIRST OFF WHEN A BREAKOUT ABOVE OR BELOW STRUCTURE OCCURS YOU WANT TO WAIT FOR CONFIRMATION THAT IT'S A TRUE BREAKOUT BEFORE TRADING. THIS WILL ELIMINATE RISK MORE SO BY GIVING A MORE SOUND PROOF REASON BEHIND TAKING A TRADE. A WAY TO TELL IF IT IS A ACTUAL BREAKOUT OR NOT FIRST IS THE POWER OF THE BREAKOUT, THE MOMENTUM AND STRENGTH OF THE BREAKOUT IS VERY CRUCIAL. THIS IS DUE TO THE FACT THAT IF YOU SEE A VERY STRONG BREAK IT SHOWS IT TOOK A LOT OF BUYING/SELLER POWER TO GET THROUGH THAT LEVEL, SHOWING IT'S A SIGNIFICANT LEVEL AND ALSO A SIGNIFICANT BREAK. SECOND, YOU WANT TO WAIT AND SEE HOW THE RE-TEST IS; IF PRICE JUST RUNS RIGHT BACK AFTER THE BREAK THAN IT'S A FAKEOUT, IF PRICE SLOWLY RE-TESTS THE AREA WITH SOME RESTS AND SMALL PULLBACKS IT SHOWS IT WAS A LEGIT BREAK AND WAIT FOR THAT BUYER/SELLER MOMENTUM TO RESUME BEFORE TAKING A TRADE. THIS ALSO GIVES YOU BETTER RISK TO REWARD WITH YOUR SETUPS. YOU WANT TO BUY LOW AND SELL HIGH. THIS IS MY OUTLOOK ON XAUUSD SO NOW WE HAVE TO WAIT AND SEE IF PRICE RUNS RIGHT BACK (FAKEOUT) OR IF PRICE HOLDS, HAS A WEAK SELLER RE-TEST, AND BUYER MOMENTUM AND STRENGTH COMES BACK. HOPE THIS HELPS LETS KEEP AN EYE OUT!
CHEERS!
Comment:
GOLD on way to upside target!
Comment:
GOLD COMING INTO TAKE PROFIT ZONE
Trade closed: target reached:
GOLD HIT UPSIDE TARGET, ON TO THE NEXT ONE! CHEERS!