Based on the previous days' candlestick patterns and the current market conditions of XAUUSD (Gold/US Dollar), there are indications that the price might decline further. The decision to place a trade with a take profit (tp) set at 1910 and a stop loss (sl) at 1982 is a personal choice and should be made with careful consideration of risk management.
To delve...
With the recent Ending Diagonals on OANDA:XAUUSD as shown in the chart below, Gold is currently starting the Correction of Wave A/1 of downward movement which started in the first week of May. On Various brokers, the price went beyond making new ATH almost a month ago. But in my opinion, that was just SL hunting done by whales to squeeze out the...
Hi Traders,
Here is gold braking out of the descending channel and pouting around the previous supply area.
Here it is, i am anticipating for a straight rebound, provided that XAUUSD, made a successful retest back to the previous demand zone, which also falls at the Fibonacci 61.8% Golden ratio level of,.
And this could ultimately leads to a fast bullish...
BEFORE OPENING YOUR TRADE:
- Remember risk management 1-3% of your capital
- Take profit of your position partially
- Don't open too many orders at the same time
- Be patient
- Don't be so greedy
- Waiting for a candle close and executing your plan.
- Go to a lower timeframe to find Choch, Flip zone…. for entry. Remember No Choch – No Entry.
- DON’T FOLLOW...
I have a full bullish bias on Gold currently no confirmed direction change at this current stage. I am not placing this trade yet but this is an example of a good set up using this method that may be valid in the coming days. Also this is how I plan my days / weeks ahead.
no indicators just look at what you can see on the screen and understand how your opponent...
