XAUUSD Potential LONGS

6 days ago

XAUUSD Potential Longs into 3338

Technical Analysis
-Beginning of May we saw PA took price to the BUY side liquidity of 3200 and rallied to the top side 3434
-Yesterday Major Support has held perfectly after tapping the levels of 3211 on the 4hr TF
-Tapping into major BUY side liquidity which was sat at 3211 without distributing further into the lows of 3200 once more, signalling that the Bearish Momentum has finished for now.
-Yesterdays daily candle held an closed above 3235 after creating new support at the 3220 levels.
-Price opened today with a gap up in price, we have so far filled the gap an is now attempting to breaks resistance once
-IMO if the 4HR tf starts breaking resistances and flip after holding 200 daily, gives way to a fresh wave of BUYERS to step in to take price back to 3338 with potential of a 3400 retest.

Fundamentals
-At this very moment there is a ceasefire with Pakistan an India.
-Trade tariffs has been eased up on both China an USA
-DXY is rallying to the upside which would mean XAU should head for the floor, However heavy manipulation is to be expected as No one is certain as to what Trump has up his sleeves.

Asian/London Session breaking highs of 3260 should see us flipping on the 4HR TF which would mean BUYERS are in the market!

This is not financial advice.

6 days ago

Trade active

1st Entry - 3211.82 / Exit 3300
2nd Entry - 3234.42 / Exit 3338.40

6 days ago

Note

1st Entry floating +350pips

2nd Entry has been stopped out for -40 pips

New 2nd position at 3217.78 / Exits 3334.27

6 days ago

Note

3rd Entry 3228.21 / Exit 3324.27

5 days ago

Trade closed: stop reached

STOPS HAS BEEN HIT ALL TRADES. Thanks for the BOOSTS

DrizzleSavageFX

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DrizzleSavageFX

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