Hello traders.
I am patient at the moment with this gold price action.
In my opinion I see 2 possible scenarios.
1st is the stop hunt of retail buyers in conjuction with selling panic down to 1792 and then a buying reversal.
2nd one is the retest of the recent highs around 1845-1856 area which will be perfect for shorts.
Note: Weekly TF perspective, it is approaching a strong demand area.
Contrary Note: Broken Daily - 4H - 1H predominent trend.
Conclusion: Wait for the price to touch key levels! There is no need to rush.
Watch the calendar for any news incoming - especially major importants news.
Shift to 4H-1H-15Min for Price Action.
Tomorrow is Monday, so I prefer to see what will give to us, and enter in the Tuesday or mid week.
I am patient at the moment with this gold price action.
In my opinion I see 2 possible scenarios.
1st is the stop hunt of retail buyers in conjuction with selling panic down to 1792 and then a buying reversal.
2nd one is the retest of the recent highs around 1845-1856 area which will be perfect for shorts.
Note: Weekly TF perspective, it is approaching a strong demand area.
Contrary Note: Broken Daily - 4H - 1H predominent trend.
Conclusion: Wait for the price to touch key levels! There is no need to rush.
Watch the calendar for any news incoming - especially major importants news.
Shift to 4H-1H-15Min for Price Action.
Tomorrow is Monday, so I prefer to see what will give to us, and enter in the Tuesday or mid week.
Trade active:
1806 opened manually.
Those who followed, they got 200 pips profit (more or less) so far.
Those who followed, they got 200 pips profit (more or less) so far.
Trade closed: target reached:
+340 pips closed
Trade active:
second trade active