XAUUSD Long
Direction: - Gold has Bullish Momentum and is still in a Bullish Cycle, as it is making higher lows and higher highs (Bullish Order Flow).
- Due to the current global issues confidence in gold is rising.
Entry: - The pair pulled back to the low of the OB (Order Block), so as long as it held the low this was the perfect entry to go long.
- The candle where I entered closed above the 200 EMA and pinned it where the low of the OB was. This indicated a very probable buy trade.
- The 200 EMA acted as a resistance point.
- RSI crossed back into the volatility bands (Shark-fin) near the 32. This indicated price was going to rise and that the pair was near being oversold.
Exit: - SL @ below the lower OB (just in case it came back for that lower low).
- TP 1 @ the point where the RSI crosses the Signal Line. This indicates an exit of the trade.
- TP 2 @ just below Weekly High.
Direction: - Gold has Bullish Momentum and is still in a Bullish Cycle, as it is making higher lows and higher highs (Bullish Order Flow).
- Due to the current global issues confidence in gold is rising.
Entry: - The pair pulled back to the low of the OB (Order Block), so as long as it held the low this was the perfect entry to go long.
- The candle where I entered closed above the 200 EMA and pinned it where the low of the OB was. This indicated a very probable buy trade.
- The 200 EMA acted as a resistance point.
- RSI crossed back into the volatility bands (Shark-fin) near the 32. This indicated price was going to rise and that the pair was near being oversold.
Exit: - SL @ below the lower OB (just in case it came back for that lower low).
- TP 1 @ the point where the RSI crosses the Signal Line. This indicates an exit of the trade.
- TP 2 @ just below Weekly High.
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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.