Is Gold (XAUUSD) going to make a Retracement? On screen analysis
Updated
I have been keeping my eye on gold for a while now and I suspect that we will see a Retracement coming next week. The Counter Trend Line has been respected for more than two weeks now so it's just a matter of time before we will see a break of the Neckline.
Remember, Patience is Key!
Remember, Patience is Key!
Comment
Even though there was a break of the Neckline Price didn't declined much further. I’m still patiently waiting... In profit ;-)Trade active
Trade is still active. I hope we will see a further decline this week. In the image below I drew the channel price is currently in.[img]
Comment
Last Friday we saw a break out of the channel as seen in the image above. I will wait till the close of today if Price closes outside the channel. If so I will close my trade.Comment
Because I use the Weiss trading strategy I slightly altered my channel. See image below. From this point forward Price has to make a Lower Low, if not I will close my trade. Or if Price closes outside the channel.[img]
Comment
Price have reached the next level of S/R! Still holding on...Comment
Price is heading to my Target Point <3Comment
I am thinking about taking my profits. Price is ranging and Momentum is turning up.Trade closed manually
Closed my trade yesterday, because Momentum shifted back up. Made some nice profits and will open this again if the overall Down Trend keeps intact.
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