This is my own Trading Plan. Do not follow my idea but you may learn and advise me about my analyst.
On 25th August, there is Double bottom line ( also a Shoulder ).
3rd September, a head has formed at the peak.
9th September, another Double bottom line ( shoulder pattern formed and completed )
First scenario : Market stucture follows the HEAD & SHOULDER...
My Trade Plan:
As I said in my all analysis, my Gold trade tied up with USD index ( USDX chart ) . Both will react vise versa direction + closely follow up US economy news to avoid the false breakout.
Remember, not only traders active in the market but also market makers.
Large speculators' preferences still long with XAUUSD. Trade follows the big fish, do not...
My trading plan:
1.USDX over-bought while XAUUSD over-sold.
2. XAUUSD look-alike respecting the trendline with support of 20 EMA (1-hour chart ).
3. Trade what you see, not what you think.
4. Do not care much about the historical chart for Gold to execute your trade. Analysis of the current trend.
5. 1900 line has been tested many times and does not rule out the...
Confuse? Buy or sell ?
My trade plan:
I am monitoring DXY ( usd index ). At the moment, it shows overbought and soon maybe not now, it will come down. Vise versa, gold will react in opposite way.
Open dyx and gold chat and analysis the comparison. The rest, up to you.
Happy 'free covid' weekend.
As some of us aware that gold price relates to USD strength.
As of today, usd index are climbing up.
Also, many traders might switch to bitcoin for long positions.
I can see xauusd price is accumulating right now.
My Gold trade plan:
I will hold from executing any trade and wait until the European session and get a clear picture. By that time, we may know where...
Some of you may wonder, what made this gold price fluctuating heavily. In a day candle, we could profit USD 500 or loss USD 500.
I was trading currencies before fully shift my focus on Gold.
Sometimes, Technical analysis and market structure analysis do not make any more sense or logic on the chart. Wonder why?
From my past experience, one thing which is to...
Price may be accumulating as it was from 17th May - 25th May before another high.
Be cautious to buy now. If it is accumulating.1887 is a good area to place a buy order. Do not rush to place an order because the chart showing an uptrend. wait for a pullback to the nearest strong support zone and wait for 2 or 3 candles on a 15minutes chart to formed.
My Trading Plan:
After a huge drop from yesterday, the price went down 1855 level before the chart shows buyer's strength again.I believe now is the right time to hit the buy order and wait for a week.
My lot size would be 0.02 and leave wait at least next week to close.
Do own analysis, monitor US dollar and US economic news. USD and Gold always chase each...
Those hit with margin call, keep trying.Those still buy from top, may hold and try sustain. market makers hit most of the stop loss of buyers. At the time of writing this, price is accumulating within the 2 yellow lines.This is pandemic season..jobless rate and world business are down.So less value for physical money, mostly the usd as the base currency of...
My Trade Plan:
Gold has break the triangle and hit the 1889. While sellers could not break the triangle.
I believe buyers still holding the key. My next target next week would be 1889 range. Thanks to weakening USD.
My own trade plan:
All of sudden, at lightning-fast, Gold has dropped. Meanwhile, on the other part, USD declining slowly against the major currencies.
I believe this Gold sudden drop due to the market makers' game to hit buyers stop lost money. Price will bounce back from 1870 and continue his journey to North.
My own Trading plan:
Price still between the huge 2 green bar.
Both buyers & sellers getting strong at the end of the week.( Price accumulating )
Market makers will push the market to the North or South to hit all the Stop lost.
I will not enter until I can see who is the winner at the end of the week ( at the triangle edge ).
Do own analysis on the higher...
My own trading idea:
As my previous idea, Gold has created a new support line and clearly moving away from the bottom half. Thanks to weakening USD. The support line has tested but failed to break at the moment. I believe the price will consolidate before another strong push to up.
The bull flag completed and the trend line has broken.
Definitely, the pullback will happen to the nearest support line.I expect heavy price correction during the European session.
I use 20 EMA to make my entry.
Do not follows someone's idea based on their cute drawing with many lines. Do own analysis, monitor news on USD and US economy.
Gold will get strong if...
What i think and apply for my own trade:
Gold has found new strong support levels and buyers getting strong for gold as the USD is weakening.
Sellers trapped and got hit their Stop lost.
Due to the successful breaking of the tick resistance wall, Gold has created a new level of support.
I will hit the BUY button, tp 1850 at the moment.