XAU/USD SIGNAL (SHORT-TERM BUY)
TOPDOWN ANALYSIS: Shows Monthly downtrend = strong bearish signal, and shows a December uptrend = short-term bullish signal
ACTION PLAN: 1.) Wait for price to show its true course - with long momentum candles (because holidays can cause consolidation/ pauses in the market) = before making a decision
MAGIC IF: 1.)If market trends upward with large momentum candles, wait for a pullback to monthly bearish trendline and wait for market to show strong wick rejections before entering a buy
2.)if price turns bearish - wait for the consolidation at the December trendline (which is another bullish opportunity - if there are enough wick rejections)
Reasons/ Confluences:
.Market is creating recent HH & HL (which shows price wanting to break previous resistance levels)
.RSI Indicator not yet above the 80 (showing bullish Divergence)
.Fundamental news showing bullish - as we get closer to containing the pandemic (vaccines e.t.c)
TIPS:
.wait for momentum candles toward our direction, then a pullback (with rejection wicks)- before taking an entry
.Never enter a trade hastily (there will always be more opportunities)
....................... !!! DONT FORGET TO LIKE AND SUBSCRIBE TO OUR CHANNEL FOR MORE FREE SIGNALS AND TURORIALS !!! ............................
ACTION PLAN: 1.) Wait for price to show its true course - with long momentum candles (because holidays can cause consolidation/ pauses in the market) = before making a decision
MAGIC IF: 1.)If market trends upward with large momentum candles, wait for a pullback to monthly bearish trendline and wait for market to show strong wick rejections before entering a buy
2.)if price turns bearish - wait for the consolidation at the December trendline (which is another bullish opportunity - if there are enough wick rejections)
Reasons/ Confluences:
.Market is creating recent HH & HL (which shows price wanting to break previous resistance levels)
.RSI Indicator not yet above the 80 (showing bullish Divergence)
.Fundamental news showing bullish - as we get closer to containing the pandemic (vaccines e.t.c)
TIPS:
.wait for momentum candles toward our direction, then a pullback (with rejection wicks)- before taking an entry
.Never enter a trade hastily (there will always be more opportunities)
....................... !!! DONT FORGET TO LIKE AND SUBSCRIBE TO OUR CHANNEL FOR MORE FREE SIGNALS AND TURORIALS !!! ............................
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.