Gold Bounce? - XAUUSD
Updated
Could be time for a retrace
Good luck traders
Good luck traders
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Still under the channel, about 1690 is resistance. So, we go long if it does break up into the next channel.Comment
This would be good for a triple bottom but it kinda looks like it will go down furtherComment
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Okay, bulls are trying to save this hourly candle now, they need to hold this channel.Comment
GJ gold bugsComment
Alright, the 15m closed in this channel, though these fibs are just averages and I usually want to see a clear breakout rather than this. Still, another point for the bulls here on the lower time frames. Trade active
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This level is critical, if the hourly closes under the MA ill close this. I was betting on the double support holding, but lets just wait for the close before doing anything we’ll regret later.
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Asian markets bearish on everything it seems, luckily bitcoin performing wellComment
I'm sure bulls will step in at some point throughout London or new York, but there's no point in catching a falling knife on a Friday unless the hourly pops upComment
When you're looking for intraday swings like this just know when to cop to the daily chart. Tbh though this is pretty mild price action for the time beingComment
Well then, good morning New York City!Comment
Looks like we may get our little breakout on the 15 after all, would be nice if gold would run off of the China rumors (trade war part 2)Comment
Well at the very least, the trade is in profit now. I will give it one more chance after 11am EST and then cut it if we don’t get the moveComment
Not bad, ended up closing with a fair bit of profit.If it wasn’t the last day of trading for the week, I’d probably consider a short here
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In closing, I never really lost faith in this trade. I do apologize for the less than optimal entry, it was late and I should have been more patient.Alls well that ends well :)
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