lumafx

XAUUSD - July 12-16th 2021

OANDA:XAUUSD   Gold Spot / U.S. Dollar
What I am expecting for this upcoming week is the following regarding Gold:

Technicals:

(Buys)

- Potential re-test of 1803 KPL where if price fails to break I will be executing HRHR (High Risk/ High Rewards) Buys to push up towards previous highs at 1812.500. Being 1803 an AOI (Area of Interest) I will only watch live price action at 1803 on the 1-minute timeframe to succesfully watch closely how price reacts and who is in control whether buyers or sellers.

- Higher intraday time frame break and re-test of 1812.500 (30M/1H/4H) time frame candle closures above this KPL would provide sufficient confirms for continued buys towards 1820's. Will only watch live price action at 1812.500 on the 1-minute timeframe to succesfully watch closely how price reacts and who is in control whether buyers or sellers.

(Sells)

- For sells below 1803 KPL , I would look for higher intraday candle closures (30M/1H/4H) below 1803 then look for 1803 re-test on LTF (Lower-time-frame) to enter sells.
- For HRHR sells I will be looking closely at 1812.500 on LTF to see how price reacts to that KPL and if there are not technical confirms where HTF candles are closing above this KPL then HRHR sells are now valid to push further down to re-rest preivous lows at 1803 and can potentially push towards 1795.
- Safest sells below 1795 by having DXY ( US Dollar Index ) strength



Fundamentals:

CPI - Tuesday
PPI - Wednesday
FOMC - Powell testifies on Wednesday
FOMC - Powell testifies on Thursday

Unemployment claims - Thursday
Retail Sales - Friday

Stick to your trading plan, do not over-trade, over- risk or over-leverage.

#longtermvisionovershorttermsatisfaction

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