limitlessal

XAU USD long position for NY open

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Lots of liquidity resting up top on all of those highs and trendlines , market has reached and completed by weekly timeframe retracement, now would be the best time to buy gold based on seasonality and higher timeframe market structure, on the lower timeframe 5 min we have a bullish divergence with the rsi and on the 1 minute we have a break of short term structure to the upside, market structure never lies, we also respected the 1700 level.

12 pip SL

1:19.69 RR

TP 1 at 1708

TP2 at 1717

Final TP at 1725

My SL is a little aggressive at 1699.5 but you can go in and enter your own SL if you would like Happy trading !


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Always remember to move your trade to break even when in profits, its better to be a break even trader than a losing trader.

Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
Comment: IF our entry criteria isnt met on open we could see gold sell off from 1708 area!!!!
Comment: Our entry criteria was met, currently running at 1:5 RR stops are at break even and i took a partial early
Please Trade at your own risk, every trader should follow proper risk management.

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