Long

XAU/USD 28.08.2023 buy

Updated

Greetings Traders,

In today's trading, I am focusing on identifying potential bullish trading opportunities. I've observed a considerable amount of bearish momentum in the DXY (US Dollar Index). Should we manage to breach a key resistance level and subsequently witness a retest, my plan involves entering a buy position in the gold market.

I am considering a strategy that revolves around a breakout scenario, particularly focused on the successful breach of a significant resistance level(104.000), followed by a retest for confirmation. Throughout this process, I will diligently implement effective risk management strategies and remain well-informed about ongoing market dynamics.

Wishing you all a successful and profitable trading day!

Note

ENTRY at 1912

Trade active

Trade is now active as we find ourselves within a resistance area on the DXY (US Dollar Index).

Note

If dxy can't break 104.000 I'm out. If gold breaks under 1913 I'm out.

Trade closed: target reached

90pips on this one

NeptenFX

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