Fundamentals:
As mentioned in my previous post, XAU's status as a safe haven and worldwide easing measures (including EUR) may send traders flocking to buy XAU.
Technicals:
D1 uptrend, gartley
Price at support
As mentioned in my previous post, XAU's status as a safe haven and worldwide easing measures (including EUR) may send traders flocking to buy XAU.
Technicals:
D1 uptrend, gartley
Price at support
Note
Many USD-driven pairs show possible bearish movement in USD (USDCHF, USDJPY, XAUEUR).As part of proper risk management, it will be wise to either
- Take only one of the 3 trades or
- Reduce position size appropriately if taking all 3 trades
Why the need for proper risk management?
- The best trade setups WILL fail; risk management prevents one trade from taking out your whole account
- If USDJPY sells, USDCHF sells, XAUEUR buys are all taken, USD appreciation will likely cause all 3 trades to fail
Trade closed: target reached
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.
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.