XAUUSD : WEEKLY TRADE PLAN UPDATE
Updated
Hi all
In the daily timeframe , gold has now broken through the previous low of 1861.430 and is descending to the next support area . I expect a daily breakout, followed by a pullback to complete the weekly structure. LH
My trading strategy is not intended to be a signal service. It's a process of learning about market structure and sharpening my trading skills.
Like, subscribe, and happy trading to everyone!
In the daily timeframe , gold has now broken through the previous low of 1861.430 and is descending to the next support area . I expect a daily breakout, followed by a pullback to complete the weekly structure. LH
My trading strategy is not intended to be a signal service. It's a process of learning about market structure and sharpening my trading skills.
Like, subscribe, and happy trading to everyone!
Trade active
Note
BE.. gain pause
Note
Updates on XAUUSD: The price bounced after being rejected at the daily support level but lost momentum. If the price breaks through the support level, I'm expecting a rejection at the prior fakeout level.
Note
Btw just incase ..cheers!!
Note
xauusd update: on the left is the H4 timeframe, and gold has completed the lower high and lower low structure. However, on a daily basis, this is still not the case. The minutes of the FOMC meeting tomorrow could go either way.
If the price breaks through daily support after the FOMC meeting, it could fall to the 1800 level.... The 50% fibo retracement from the previous high and low is 1788.
check here
Note
HIGH RISK
Note
The XAUUSD monthly data shows that the previous high is 2075.282 from the year 2000 and the 2016 lows are 1046.459.
After several years of sideways trading, the market broke the support level of 1676.866 last year, and I think the recent rally is a pullback.
As for now the lower price is 1818.975 and the structure is still in tact on the daily period despite the support level being broken.
Perhaps by the end of the first quarter or even sooner, we'll see price testing 1771.945
Let me know what you think In the comments!
My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills.
Thanks a lot for your support.
Note
Thanks a lot for your support.
Note
I'm not a fan of the Quasimodo setup, so I'm looking for another confirmation.
Trade active
Update
Trade closed: stop reached
hit sl
Related publications
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.