BitkoinKing

Gold Long Update 10/02/19above

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
This trade appeared to work out perfectly. Painted a picture perfect bull flag, in addition to rejecting a specific level around 1475 on the low end, and 1478 on the high end of the level. The smma crossed north through and fanned out in a bullish manner. My entry was based off of the retrace of the bull flag, in addition to price closing above the cold smma. One particular reason I chose that level for rejection or acceptance was a combination of two different things that are confluent with each other. The first being the whip saw candle that painted itself at 14:15 UTC on OCT 1st, 2019. That particular candle seemed to be either a resistance or support flipping point, and in this particular case, it acted as a support. In addition to that candle, when I highlighted its upper and lower bounds, I actually noticed that I lined up with two low volume nodes on the volume profile that, in my opinion, coincide with the junction or separation point of the two levels. The levels below (around 1475-1462), and the levels above (around 1478-1489). In this particular case, I was expecting a small pull back in price before it continued further up in price.
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