XAUUSD Long - Flashcard
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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