Still doing my exams so not trading at the moment, but I sure have been observing the charts! Few days ago I was certain that xau/usd was bullish, but the indecisiveness at the current level, collapse of eurusd and fundamental factors make me think it's a sell. What do ya'll think?
Risking 1%, one winning scalp a day is all you need. Enjoy the rest of the day! Keeps you from overtrading, revenge trading, and minimizes losses. If you start with 200$ account , and make 1% profit each day, your equity will be approx. 45M$ 5 years later!
Two trades a day. If the first one is a loser, another trade can fix that. 2 losers, end of day. 1L and...
Gold Short idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We’re sticking with the overall daily bearish trend and will look for short opportunities. Ideally we’re looking for this head and shoulders pattern to complete followed by a break and retest of 1826.00 with a lower high below. Look to target lower toward major...
This is a quick update on Gold. The price broke above the 4H MA50 with relative ease and this bullish leg (since November 30) resembles the sequence of October 29 - November 09. That wave, after a pull back to its 0.5 Fibonacci retracement level and the 4H MA50, it found Support and rebounded to the -0.786 Fibonacci extension.
That extension is at 1905 but I...
Bulls are seemed to be short-lived amid price is reaching the strong resistance level along with 200 moving average resistance. Gold buyers fueled up due to weakening USD with news on the air of stimulus package. How are at 1840 level we can enter a longterm sell position to enter the trend again.
After checking XAUUUSD in a 15min timeframe,and pivoted down to 5Min which wont show here i found that XAUUSD has broken the uptrend which is inside the rising channel,and it will now retest to the levels of 1884,then continue with its downwards movements