XAUUSD Gold idea
Updated
Hello everyone
Yesterday after the news I checked long on gold.
But I didn't stay long in that position because gold didn't moved according technical analysis (at least as I expected). So my approach was a little bit careful. But now gold moved as predicted.
Why did I choose for long?
Because once gold reached on the discounted area 2315, I waited for LTF confirmation and it gave it in 1m. Also, price didn't make another low.
Which provided me double bottom classical W on 1H.
My TP1 was 2331.
Now I'm expecting price to reach 2360 sell side LQD grab.
If price closes full body above that price, i will look for bullish movement as main and retracements bearish only.
Now price is in between internal structure so be careful.
I'll update you soon.
Good luck
Yesterday after the news I checked long on gold.
But I didn't stay long in that position because gold didn't moved according technical analysis (at least as I expected). So my approach was a little bit careful. But now gold moved as predicted.
Why did I choose for long?
Because once gold reached on the discounted area 2315, I waited for LTF confirmation and it gave it in 1m. Also, price didn't make another low.
Which provided me double bottom classical W on 1H.
My TP1 was 2331.
Now I'm expecting price to reach 2360 sell side LQD grab.
If price closes full body above that price, i will look for bullish movement as main and retracements bearish only.
Now price is in between internal structure so be careful.
I'll update you soon.
Good luck
Trade closed: target reached
What did I tell you about gold
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.