Trades for the week
Here is my break down for gold 
XAUUSD .
I only trade the structure and what the market gives me. If the market shows me I am not breaking below, I look for confirmations to go higher. When price reached the support level, I noticed a lot of wick exhaustion. This confirms there are no selling in this zone, Buyers are taking over. I got a break and retest above, which allows me to place my fib. I then took profits to my next zone, There was a -61.8 , resistance level and divergence. These are valid confirmations for a sell, however, I always tell my students to WAIT for a change in direction, because the divergence in this case is still technically an UPTREND. Meaning, it's not ready for a fall until it's broken. When I noticed another break and rested ABOVE, I knew we were going to continue to the upside. I love to zoom in on price when looking for the breaks and retest, especially when im trading an aggressive candle. On the 1 Min and 5, I can see minor B+R to enter back in to the structure, at the best price possible to minimize drawdown. I always take profits at the next safe zone, especially because I am very busy. When I noticed another break and retest, I got back in again and took it to my final zone. At this level we had divergence, followed by a break and retest to fall. When I adjust my fib, Its sitting on a continuation level, so I am looking for price to push up some more, but as always, I need more confirmations to confirm the direction before I just jump in and assume.
XAUUSD . I only trade the structure and what the market gives me. If the market shows me I am not breaking below, I look for confirmations to go higher. When price reached the support level, I noticed a lot of wick exhaustion. This confirms there are no selling in this zone, Buyers are taking over. I got a break and retest above, which allows me to place my fib. I then took profits to my next zone, There was a -61.8 , resistance level and divergence. These are valid confirmations for a sell, however, I always tell my students to WAIT for a change in direction, because the divergence in this case is still technically an UPTREND. Meaning, it's not ready for a fall until it's broken. When I noticed another break and rested ABOVE, I knew we were going to continue to the upside. I love to zoom in on price when looking for the breaks and retest, especially when im trading an aggressive candle. On the 1 Min and 5, I can see minor B+R to enter back in to the structure, at the best price possible to minimize drawdown. I always take profits at the next safe zone, especially because I am very busy. When I noticed another break and retest, I got back in again and took it to my final zone. At this level we had divergence, followed by a break and retest to fall. When I adjust my fib, Its sitting on a continuation level, so I am looking for price to push up some more, but as always, I need more confirmations to confirm the direction before I just jump in and assume.
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.