Has a NEW PATTERN been discovered on Gold (XAU||GC)?!
Goooood Morning Tradingview!!
It has been too long since I last published an idea. Today is a true gem!! I call it the 4 Hour U-Banger in honor of my Wisconsin roots. Whenever we had to turn the car around we would call it a "U-ey" so anyways we would "bang a Uey" lol
Price does just that...
We can see gold reaching new All Time Highs each and every week it seems like. Yet my edge plays out even in this new, unknown territory. Let me break this on down for you!!
So we can actually see it better on the 5m timeframe but I can't publish an idea on the 5m TF...maybe the Tradingview team can change that hmmm...? lol
Anyways, here's the play for the long position:
1. Price pushes up, usually on the 2nd touch of the lower trendline in a channel.
2. A flag pattern forms on the 5m chart (sometimes within the last 15m candle of the 1H)
3. Place entry
4. Price pushes up for 50-80 pips/ticks (take profit 1)
5. Pullback to OG entry (set buy limit order or market entry)
6. PATIENCE, PATIENCE, PATIENCE!! Price hits TP 2 (100-200 pips/ticks depending on the day)
I hope this play straight from my trade-book blesses some of y'all today!! I love y'all, PEACE!!
It has been too long since I last published an idea. Today is a true gem!! I call it the 4 Hour U-Banger in honor of my Wisconsin roots. Whenever we had to turn the car around we would call it a "U-ey" so anyways we would "bang a Uey" lol
Price does just that...
We can see gold reaching new All Time Highs each and every week it seems like. Yet my edge plays out even in this new, unknown territory. Let me break this on down for you!!
So we can actually see it better on the 5m timeframe but I can't publish an idea on the 5m TF...maybe the Tradingview team can change that hmmm...? lol
Anyways, here's the play for the long position:
1. Price pushes up, usually on the 2nd touch of the lower trendline in a channel.
2. A flag pattern forms on the 5m chart (sometimes within the last 15m candle of the 1H)
3. Place entry
4. Price pushes up for 50-80 pips/ticks (take profit 1)
5. Pullback to OG entry (set buy limit order or market entry)
6. PATIENCE, PATIENCE, PATIENCE!! Price hits TP 2 (100-200 pips/ticks depending on the day)
I hope this play straight from my trade-book blesses some of y'all today!! I love y'all, PEACE!!
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