MaryJane
Long

2 interesting Trading Boxes Part II!

FX:XAUUSD   Gold/U.S. Dollar
1409 5 48
Please read my former view first (see below)

These hours we have reached the TP of my former view (see below)- the bottom of the illustrated blue box! So i have to update my view.

We played the in my main view illustrated variante no. 2 (mangenta box - see below).
Now i see the chance to play variante 1 of the Blue Box:

1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the bottom and upper edge of the mangenta box and than the upper edge of the blue box again

At the blue box`s bottom we have a classical action             point were a decision has to be made. Here you could make a straddle - that means you open 2 positions, one long at the present level and a stoppsell order below todays             low with a sl near above the blue boxs bottom edge.

The streesed out BBs, the four times bought supportlevel and the bullish wedge in combination with an oversold RSI could be a nice anticyclical and risky longchance.

We are here: also enar the next longterm action             point
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COMMENTS ARE WELCOME -AGREE OR DISAGREE

Former view: 2 interesting Trading Boxes!
2 interesting Trading Boxes!


Since July, a Trading Box appeared: 1306$ - 1375$.
Within that Box, we can see the next shortterm Box which reaches from 1330$ to 1356$

Interesting are the edges from each Box.

Trading ideas Blue Box:
1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the upper edge
On the other side, the Risk Lover could sell the upper edge @ 1.375$ (SL near above that Level) TP=Box`s Bottom
2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge)

Trading Ideas Mangenta Box:

1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.330$. TP1 would be the upper Boxedge mangenta, and TP2= upper BoxEdge Blue. On the other side, the Risk Lover could sell the upper edge @ 1.356$ (SL near above that Level) TP1=Mangenta Box`s Bottom/ TP2 Blue Box`s Bottom
2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge) TPs are the edges of the blue Box

microview:
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Comment: below 1305 the risk increases to dip down to 1298- than 1290
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Comment:
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Comment: longposition in full swing..bullish wedge is active
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Comment: reached next action point!
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Comment: 1310 is the shortterm level to watch!
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Trade closed: target reached: long reached mangenta box = tp1! YESSS!!!
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Comment: overview: short the mangentas bottom or wait for a stopbuy when entering the box ?https://www.tradingview.com/x/t3HY2Exm/
Comment:
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Comment: straddle it?
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Comment:
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Comment: We are trrading near an Action Point. (mangenta box bottom) ...
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Comment:
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Comment: reached mangenta box = action point
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Comment: nice
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Comment: now the illustrated mangenta box Long is triggered
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Comment: overbought rsi now
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Comment: rsi!
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Comment: i love this box-trades!!!
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Comment: a flag like a textbook
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Comment: this trend has to hold..
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Comment: and down again?
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Comment: levels to watch!
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Great Stuff! Thank you!
Reply
waiting for the US ISM Non-Manufacturing PMI result ,
Look all usd drop
Reply
Well thought analysis. Our part is done. Thanks.But the outcome market will decide as usual
Reply
MaryJane waterman
hey waterman, that`s right...this view is just a snapshot....after the News tomorrow we have to dice again
Reply
Bought already at 1307.75 as well. ADP's number was green I think NFP this Friday might go green as well. It might push the price break 1306 but I do expect to see the price rebounce to 1320 before NFP number release this Friday. Thanks for your view.
+1 Reply
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