Description: As shown above we have
XAUUSD
This future is currently Bullish on on the Monthly. Price Currently Around 1350.72
Monthly Indicators
EMA: 10 and 20 Bullish
RSI: Bullish Territory
(Weekly) -
See Weekly
Bearish Channel From Early April Recently Broken In early 2016
4 Retests of broken Bearish Channel trend line, Could not close Below, Price Continued Bullish
Candles: Bullish Engulfing
EMA: 10 and 20 over 200 (Bullish)
(Daily)
Bullish Channel from Oct 2015 to present
Bullish Candle Testing W res
Duration: Long Term
Decision: I will Long This Pair.
I have 2 Trades for this Long Proceeding
1) If price break above W Res (1354.58) I will buy to next line of resistance (M Res 1373.18) as the 1st target.
2) 2nd targets into trend line resistance if (M res 1373.18)
Buy Stop: 1360.87
TP 1372.77
SL: 1355.24
Buy stop: 1360.87
TP: 1450.51
SL: 1354.62
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.
Remember to always trade your strategy
Happy Trading
XAUUSD
This future is currently Bullish on on the Monthly. Price Currently Around 1350.72 Monthly Indicators
EMA: 10 and 20 Bullish
RSI: Bullish Territory
(Weekly) -
See Weekly
Bearish Channel From Early April Recently Broken In early 2016
4 Retests of broken Bearish Channel trend line, Could not close Below, Price Continued Bullish
Candles: Bullish Engulfing
EMA: 10 and 20 over 200 (Bullish)
(Daily)
Bullish Channel from Oct 2015 to present
Bullish Candle Testing W res
Duration: Long Term
Decision: I will Long This Pair.
I have 2 Trades for this Long Proceeding
1) If price break above W Res (1354.58) I will buy to next line of resistance (M Res 1373.18) as the 1st target.
2) 2nd targets into trend line resistance if (M res 1373.18)
Buy Stop: 1360.87
TP 1372.77
SL: 1355.24
Buy stop: 1360.87
TP: 1450.51
SL: 1354.62
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.
Remember to always trade your strategy
Happy Trading