XAUUSD DECISIVE AREA
Updated
This pair is on a decisive area now. Such area is very volatile to trade but at the same time it could be an opportunity also for traders.
As per DOW its making LL LH and in order to break this it has to give closing above the previous LH which is around 1790 at the same time it could retrace back to 1763 and then targeting towards 1750 for new LL.
The Ichimoku red cloud is still above while lagging span below which is favoring the bears .
However as per Renko strategy with traditional settings it indicates a bullish move along with breaking a parallel bearish channel towards upward, one brick already formed above the channel.
On Daryl Guppy both investors and short term traders have merged in between which again means a decisive area as both the long and short MA's are colliding.
For hardcore traders it could potentially be a nice hedging setup and they can scalp as well.
New comers kindly avoid this area.
On daily- kinda inverse double top is formed also
On weekly bullish flag is formed
On monthly Cup and handle is formed
For those who missed last week trades they could follow both the trade plans i have shared . Trade with discipline and without emotions. Get yourself numb of the gossips :)
For $1000 account use 0.02 - 0.5 lots and make sure to trail the SL always to recover losses and maximize the gains.
Have a safe trade ;)
As per DOW its making LL LH and in order to break this it has to give closing above the previous LH which is around 1790 at the same time it could retrace back to 1763 and then targeting towards 1750 for new LL.
The Ichimoku red cloud is still above while lagging span below which is favoring the bears .
However as per Renko strategy with traditional settings it indicates a bullish move along with breaking a parallel bearish channel towards upward, one brick already formed above the channel.
On Daryl Guppy both investors and short term traders have merged in between which again means a decisive area as both the long and short MA's are colliding.
For hardcore traders it could potentially be a nice hedging setup and they can scalp as well.
New comers kindly avoid this area.
On daily- kinda inverse double top is formed also
On weekly bullish flag is formed
On monthly Cup and handle is formed
For those who missed last week trades they could follow both the trade plans i have shared . Trade with discipline and without emotions. Get yourself numb of the gossips :)
For $1000 account use 0.02 - 0.5 lots and make sure to trail the SL always to recover losses and maximize the gains.
Have a safe trade ;)
Note
;)
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