Due to Retail Sales having positive data on Friday, we witnessed a supply of Gold where buyers exited positions at intraday Highs and starting profit-taking, also sellers jumping in to ride the data towards previous 1812.500 KL. There appears to be some seller's exhaustion at the 1812.500 KL, but we will have to wait and see HTF candle closures above the KL to confirm continued bullish market sentiment. HTF Bullish Market Structure still has not been broken so technically we are still in a Bullish bias until price sensitivity areas are broken in larger time frames or a fundamental catalyst accelerates this move. There are no High Impact fundamental data releases on Monday so make sure to take it slow and stick to your trading plan. Price will most likely be ranging after finishing last week's move so let price adjust and enter a possible range.
Buys:
- Riskier buys due to tight range with rejections to the left at 1813.850 area to move towards next price sensitivity area at around 1817
- Safer buys to take with 15/30M candle closures above 1817 area would paint out well to take impulse entries if PA is sufiicient to enter while managing risk
Sells:
- Continued sells to re-test range between 1795-1812.500 KL's where price ranged for about a week. Look for candle closure below 1810 to revisit 1803.
Monday take it slow, start of the week, markets alligning themselves for the week so do not over-trade, over-risk, over-leverage. If there are no clean moves,stay away from the charts.
#wegetpaidtowait #alwayscomesecond #lumafx
Buys:
- Riskier buys due to tight range with rejections to the left at 1813.850 area to move towards next price sensitivity area at around 1817
- Safer buys to take with 15/30M candle closures above 1817 area would paint out well to take impulse entries if PA is sufiicient to enter while managing risk
Sells:
- Continued sells to re-test range between 1795-1812.500 KL's where price ranged for about a week. Look for candle closure below 1810 to revisit 1803.
Monday take it slow, start of the week, markets alligning themselves for the week so do not over-trade, over-risk, over-leverage. If there are no clean moves,stay away from the charts.
#wegetpaidtowait #alwayscomesecond #lumafx
Trade closed: target reached:
1st target reached for riskier buys playing out from 1812.500 KL towards 1817 without any problems whatsoever. There was a beautiful break and re-test of the KL to continue its bullish momentum towards 1817 previous price sensitivity area. No trades taken since I am following my trading plan, this is not my session I trade NY + NYSE session for price action + volume. If you enjoy the analysis please like and follow the account!
Trade closed: target reached:
LTF Bearish market structure continued to play out re-testing the previous lows as expected during London session. Still on HTF respecting Bullish market structure will wait for NY and NYSE Session for price to adjust and look for corrective buys to this move to the downside. If no set-up shows up that I am willing to execute then there will be no trade. BMS would be broken if there are intraday candle closures below 1795.