My last Gold trade played out near perfectly.
If you follow my trades you know I am usually on the hunt for order blocks which is liquidity / an imbalance left behind by institutions when they’ve made a significant move.
It’s usually a point of interest for them to go back to rebalance. These can be used as your points of entry or exit in a trade.
I usually circle order blocks in yellow. In this case it confluences with the 61.8% fibonnaci retracement which is a psychological retracement point for us retail traders :-)
Looking for price to hit 1835.50-1836 for an entry to short. Set your SL between 30-50 low risk.
XAUUSD is a volatile pair so trade carefully and manage your risk according to your trading account.
If you follow my trades you know I am usually on the hunt for order blocks which is liquidity / an imbalance left behind by institutions when they’ve made a significant move.
It’s usually a point of interest for them to go back to rebalance. These can be used as your points of entry or exit in a trade.
I usually circle order blocks in yellow. In this case it confluences with the 61.8% fibonnaci retracement which is a psychological retracement point for us retail traders :-)
Looking for price to hit 1835.50-1836 for an entry to short. Set your SL between 30-50 low risk.
XAUUSD is a volatile pair so trade carefully and manage your risk according to your trading account.
Trade closed: target reached:
115 pips gained.Boom!