XAUUSD Buy idea, because of a expected pullback and buy pressure
Starting from the 4h view we can still see that we are in a bearish trend and momentum so looking for main sells is just the right thing but we have to allow market to pullback also before doing so. Thats why we can look for a potential buy (30min chart) because market got a little exhausted on friday and its showing us currently some buying pressure which we can also see in the 4h candle close. Nothing huge but still possible to catch great profits if managed right until 2.420-25. After that best is to wait and to see if we did break or already reversed from that level, gathering more info for next steps.
Now if we see price struggle to pass 2.408 then probability is that we will continue lower then 2.390.
Now if we see price struggle to pass 2.408 then probability is that we will continue lower then 2.390.
Note
If we dont see any type of volume increase and momentum on the upside,will then close trade at current price or at least at 2.405 and wait until we sweep out one side of the current range.Note
I have fully closed my trade.Trade closed manually
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.