XAUUSD 2023 09 11
Updated
Bias: Longs
R:R 5:1
Confluences
Macro
Weekly - Previous 3 weekly candles supported ABOVE Q2 low key level at price zone 1900.00
4h - Double bottom market pattern above previous weekly low ~ indicating an exhaustion in
bearish momentum
4h - Validated/Confirmed current BULLISH condition market on this timeframe ~ creation of a
new structural higher/high and higher/low
4h - Fair Value Buy Side imbalance Gap filled with encroachment area being retested on the
current 4 hourly candle (1300 UTC 4h candle), encroachment area within actual entry zone
Micro
1h/30m - Trading within Bullish channel on the intra day timespan
30m/15m - Last week Thursday US session high as entry zone
15m - Entered off of this timeframe
Remarks: Only expecting this bullish run to last until zone 1940.000 gets retested as this zone is a Key level on the Weekly timeframe as well as being the previous weekly high.
R:R 5:1
Confluences
Macro
Weekly - Previous 3 weekly candles supported ABOVE Q2 low key level at price zone 1900.00
4h - Double bottom market pattern above previous weekly low ~ indicating an exhaustion in
bearish momentum
4h - Validated/Confirmed current BULLISH condition market on this timeframe ~ creation of a
new structural higher/high and higher/low
4h - Fair Value Buy Side imbalance Gap filled with encroachment area being retested on the
current 4 hourly candle (1300 UTC 4h candle), encroachment area within actual entry zone
Micro
1h/30m - Trading within Bullish channel on the intra day timespan
30m/15m - Last week Thursday US session high as entry zone
15m - Entered off of this timeframe
Remarks: Only expecting this bullish run to last until zone 1940.000 gets retested as this zone is a Key level on the Weekly timeframe as well as being the previous weekly high.
Trade closed manually
Market did not have the expected bullish momentum after trading session, therefore position was closed right after trading session yesterday
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.