XAUUSD | New perspective for the new week/year

The channel between $1,820 and $1,780 last month reveals there's uncertainty about the fundamentals around the Gold. As the new year begins, there is a tendency to be some level of fear in the market as portfolio managers and traders will not want to be in a real risk-on position, especially in a week that is laced with key macroeconomic events. From a long-term and technical standpoint, this video illustrates how we shall be planning potential trading opportunities using the $1,800 zone as a guide.

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:

Price action has started the week/year on a bullish tone as the price moved over 2,000pips in our direction thereby respecting the temporary bullish trend line (black dotted line). Congrats to those who took advantage of this opportunity! Now, we have a channel between the $1,824 and $1,832 zone where a breakout of the $1,832 signals a potential trend continuation to the upside. At this juncture, we want to continue to look out for buy opportunities at a retest of structure, so in this regard, we have identified a buy zone around the 1,836/1,828 where we shall be waiting for a reversal pattern on a lower time frame.

Good morning

Trade active:

Following the accumulation of buy pressure around the $1,832.50 level, the price moved over 1,500pips before the resumption of another wave of sell pressure at the $1,850 zone to take out the buy position with a small profit. Selling opportunities will come knocking if a breakdown/retest of the $1,832 level and trendline happens.

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Secure buy positions as buy pressure resumes above the $1,832 zone (buy zone)

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Over 3,000 pips in profit as the second buy position got triggered at the breakout of the $1,850 level. Securing all buy positions as participants look forward to the macroeconomic events today (FOMC Minutes and ISM Manufacturing PMI(Dec) ) and we are beginning to witness the reflection of the anticipation on the charts.

Good morning

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Simple set up identified on the 15 minutes time frame. You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade during the NY session

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Another buy position triggered as price action retested the $1,850 level.
You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade.

Trade active:

After enjoying over 3,000pips run on this pair, sell pressure has resumed at the $1,860 level and this has continued in the last 11 hours. And with the anticipation of the FOMC releasing the minutes of the December policy meeting 30 minutes from now; there is a high chance that the US Dollar will rise which might lead to a breakdown/retest of the $1,850 level to incite a sell-off. As we anticipate a selling opportunity at this juncture we should not ignore the possibility of a breakout of the $1,860 level to incite another wave of bullish momentum.

Trade active:

Secure sell position as price action breakdown the $1,850 level.

Good morning

Trade active:

UPDATE

Participants look forward to the macroeconomic event today (ADP Employment Change) and we are beginning to witness the reflection of the anticipation on the charts. You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade during the NY session

Trade active:

Positive data for the US Dollar - ADP employment change recorded 235K as against the expectation of 150k.

In this regard, we have the second position triggered at the breakdown of $1,845 level

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As we anticipate the first NFP of the year, a new trendline is identified and it shares a confluence with the $1,840 level where selling pressure is observed. Breakdown/retest of this trendline will be a good sign for selling opportunities for today.

Good morning

Trade active:

QUICK UPDATE

Secure sell positions as participants look forward to the macroeconomic event today (Nonfarm Payrolls) and we are beginning to witness the reflection of the anticipation on the charts. You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade during the NY session

Trade active:

Just as discussed during our live session this morning. The breakout of the $1,840 level is a risk worth taking as we look forward to moving our stop-loss accordingly to protect the buy position in anticipation of a strong sell-off between the $1,845/1,850 zone if it happens.

Trade active:

Secure the buy position as selling pressure resumes at the $1,850 level as projected this morning and we might likely be getting prepared for a sell-off... update coming up soon

Trade active:

Looking forward to price retesting the $1,850 to sell and if price action breakdown/retest the $1,845 level - we are selling

Trade closed: target reached:

Buy position hits TP target with 2,000 pips profit... Now, lets see how price reacts with the $1,860 level for the next line of action as a breakout/retest will welcome another buying opportunities.

Comment:

We remain patient as we monitor price action around the $1,860 zone though selling pressure has been observed but we need this candle to close for further confirmation

Trade active:

Price action breaks out of the $1,860 and on the 5-minute time is a structure to guide trading opportunities.

Trade active:

Secure the buy position as price action breakout/retest of the $1,863

Comment:

Congrats to everyone who has been part of this profitable journey... I am closing for the week and hoping to see you here next week.

A beautiful weekend to you!