I will open buy if GOLD will make a false break out of $1484
potential profit will be in 8 times bigger than risk
You will get an accurate signal with entry place, Take Profit & Stop Loss place if this post will get 100 like.
XAUUSD price action trend is expected to oscillate between 1555-1446 Resistance-Support price range.
XAUUSD current Resistance-Support price range is capped at 1540-1450 high/low level.
XAUUSD psychological support level is priced at 1446 fibo retracement mark and its expected to be tested is subsequent trading days.
Price made false break out of mirror level $1484
I opened sell at $1483.50
T/P: I will do an update soon.
Please, use proper risk management. never risk more than 2% of my capital per position because the market can change.
from the chart in the comments can be seen that weekly pattern is completed! now we are ending the last part of it.
now in this chart taking in consideration last bigger correction from february till may cant be alone, and this instead of forming h&s formation looks like its deepening the correction and it might looks like this... that big blue rectangle is...
Price broke down key level $1511
Huge possibility price will continue to drop to $1485
I will open Sell near $1511 if the price will show false break up
You will get an accurate signal with entry point Stop loss and take profit if this post will get 100 like
Following on from yesterdays FOMC news, Gold has shown it's trend direction. I can see a retest of 1500 level before falling to the 1460 target. 1505 Stop Loss to give trade room to breathe.
This is an update on my Gold analysis. I believe price will follow the direction shown in the purple arrows and reach the blue zones before falling. This will also form a XABCD Harmonic Pattern when complete.
ENTRY: 1465 OR 1439 (PRIMARY OR SECONDARY SUPPORT)
Overall trend is LONG. I have used Fibonacci sequence to find my key levels from various ABCD moves. I believe that Gold will come to either the Primary or Secondary Support levels as labelled, and reject to continue the uptrend. Which level it rejects I am unsure of at...