Market Overview:
Gold (XAU/USD) continues its upward movement. I will wait for the price to break out of the current structure and form a candlestick pattern.
🎯 Key Scenarios:
Breakout Scenario:
A candle must close within the body of the previous candle, confirming the breakout.
After confirmation, I will look for an entry setup on a lower timeframe (e.g., M15 or M5).
Pullback Scenario:
If the breakout does not occur, I will consider long positions during a corrective move toward the OB IDM (Order Block Initial Drive Momentum) zone.
📉 Short Positions:
For short positions, I will consider them only if liquidity builds above PDH (Previous Day High) to break the current structure.
📊 Trading Plan:
Monitor the price action closely:
If no short opportunities arise, I will focus on long positions.
⚠️ Risk Management:
Ensure position size does not exceed 1% of your trading capital to manage risk effectively.
📢 Wishing everyone a profitable trading day!
Gold (XAU/USD) continues its upward movement. I will wait for the price to break out of the current structure and form a candlestick pattern.
🎯 Key Scenarios:
Breakout Scenario:
A candle must close within the body of the previous candle, confirming the breakout.
After confirmation, I will look for an entry setup on a lower timeframe (e.g., M15 or M5).
Pullback Scenario:
If the breakout does not occur, I will consider long positions during a corrective move toward the OB IDM (Order Block Initial Drive Momentum) zone.
📉 Short Positions:
For short positions, I will consider them only if liquidity builds above PDH (Previous Day High) to break the current structure.
📊 Trading Plan:
Monitor the price action closely:
If no short opportunities arise, I will focus on long positions.
⚠️ Risk Management:
Ensure position size does not exceed 1% of your trading capital to manage risk effectively.
📢 Wishing everyone a profitable trading day!
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.
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.